As a reminder, the World Financial Discussion board (WEF) is happening in Davos this week. The occasion begins at this time till Friday however most of what we’ll be seeing on the agenda and on the sidelines are prone to happen from tomorrow onwards. You may take a look at the highlights of the agenda from earlier right here: One final probability to protect the outdated world order?
With world leaders set to get collectively, it will be a little bit of a clumsy one now after Trump simply threatened tariffs towards European nations over the Greenland scenario. In his phrases, the tariffs will probably be on “any and all items” until “a deal is reached for the whole and complete buy of Greenland”. 🤪
It is going to be a ten% levy ranging from 1 February with it doubtlessly leaping to 25% come 1 June after.
For now, the EU remains to be very a lot planning its retaliatory actions. And von der Leyen has to deliver one thing to the desk in any discussions with Trump on the matter. As issues stand, Trump needs to play issues out similar to that he holds all of the playing cards. Nevertheless, everyone knows that that is all a part of his negotiating tactic. Go huge within the first ask after which water issues down after.
That being stated, the entire matter of Greenland is likely to be a distinct scenario than what we have seen earlier than. So, we must see how severe this actually is as in comparison with earlier TACO episodes. Venezuela now serves as a precedent that something goes.
The EU is reaffirming that there isn’t any deliberate assembly but between von der Leyen and Trump however that “engagement with the US remains to be persevering with on all ranges”. Including that intensive consultations at the moment are happening amongst member states on a potential response to the US’ tariffs risk.
