Only a few days after threatening to impose new tariffs on a group of eight European countries related to his pursuit of Greenland, the president has called off the threat.
Wednesday, President Donald Trump took to Truth Social to tout the "framework of a future deal" related to the autonomous Danish territory. With that development, the president said he "will not be imposing the Tariffs that were scheduled to go into effect on February 1st."
Over the weekend, Trump threatened to impose 10% trade duties on Denmark, Norway, Sweden, Finland, France, Germany, the Netherlands and the U.K. over their recent military support for Greenland.
Trump has asserted that the territory is vital to U.S. national security. But protests and rebukes from EU political leaders suggest that the U.S. stands alone in its ambitions to transfer control of the autonomous territory.
In the wake of the latest tariff threat, concerns were immediately raised about a key trade deal between the U.S. and European Union.
While Trump and EU Commission President Ursula von der Leyen signed the deal last July, it still needs to be approved by European lawmakers. After the new threats from Trump, the deal's ratification was in question, Politico reported.
If ratified, the deal is set to establish 15% tariffs on most European imports into the U.S., including pharmaceuticals.
Last year’s EU trade deal provided much-needed clarity for the pharmaceutical industry, which spent much of 2025 trying to wrap its head around Trump’s ever-shifting import duty targets.
Editor's note: This story was updated after President Donald Trump's Wednesday Truth Social post calling off the new tariff threat.