Trump Imposes New Tariffs Against These EU Nations Over Greenland: Will BTC Collapse Again?

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Summarize with AI

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The dispute over Greenland continues as numerous countries from the European Union sent military personnel to the island in a so-called reconnaissance mission.

US President Donald Trump, who keeps claiming that his country needs to control the island, just announced a new set of tariffs against all nations that have sent troops.

In a post on his social media platform TruthSocial, the POTUS said the tariffs will impact Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland.

At first, the taxation will be 10% on all goods sent to the US starting from February 1, 2026. However, if there’s no deal for the acquisition of Greenland by June 1, the tariffs will increase to 25%.

In his statement, Trump emphasized that a deal means a “complete and total purchase of Greenland,” which, he claims, is essential for his country’s national security.

In a separate post on X, the analysts from the Kobeissi Letter estimated that $1.2 trillion worth of annual bilateral trade will be impacted under these new tariffs. They also asserted that the potential acquisition of Greenland would cost the US around $700 billion.

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They warned that the US-EU trade war, which began last year shortly after Trump’s inauguration, just “escalated to a whole new level,” as it’s clear that Greenland has become the POTUS’s “top strategic focus.”

Recall that BTC’s price was among the worst-performing assets last year when Trump announced the first wave of tariffs against countless countries. It slumped from its then-ATH of $110,000 to under $75,000 in the span of just a few months.

Trump’s announcement from earlier today hasn’t harmed bitcoin’s price performance yet. The cryptocurrency trades inches above $95,000, showing little to no movement over the past 24 hours.

BTCUSD Jan 17. Source: TradingView

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Source: https://cryptopotato.com/trump-imposes-new-tariffs-against-these-eu-nations-over-greenland-will-btc-collapse-again/