Europe Suspends US Trade Deal Approval, Markets on Alert

January 28, 2026 Julia Evans – Entertainment Editor Entertainment

Here’s a summary of the provided text, focusing on the key events and their impact:

Trump’s Greenland Pursuit & Trade Tensions

* greenland Dispute: Donald Trump has escalated his efforts to acquire Greenland, now threatening new tariffs against countries that oppose the sale.
* market Reaction: This has rattled financial markets globally, raising fears of a renewed trade war. Stock markets in the US and Europe experienced important drops on Tuesday. Asia-Pacific markets were mixed on Wednesday.
* Safe Haven Assets: Investors are flocking to safe haven assets like gold (reaching over $4,800/ounce) and silver,driving up their prices. The US dollar experienced a drop.

EU-US Trade Deal in Jeopardy

* Recent Agreement: A trade deal reached in July at Trump’s Turnberry golf course had eased tensions, reducing US tariffs on European goods to 15% (from a threatened 30%). Europe agreed to invest in the US and make changes to boost US exports.
* Deal Suspension: following Trump’s Greenland tariff threat, key figures in the european Parliament (Manfred Weber and Bernd lange) have moved to suspend ratification of the trade deal. They cite concerns about US undermining trade stability and threatening the sovereignty of EU member states (specifically Denmark, which governs Greenland).
* Potential Retaliation: The suspension of the deal raises the possibility of the EU enacting previously announced retaliatory tariffs on $109 billion worth of American goods.

In essence, Trump’s pursuit of Greenland is having a ripple effect, jeopardizing a recently negotiated trade deal and creating significant uncertainty in global financial markets.