Gold and Silver Hit Record Highs as European Markets Fall on Trump Tariff Threat

January 26, 2026 Julia Evans – Entertainment Editor Entertainment

Here’s a breakdown of the information presented in the text, focusing on key details:

Main Event:

* Donald Trump proposes a tariff on goods from Greenland: He wants a 10% tariff starting february 1st, increasing to 25% by June 1st, unless the US can “entirely and totally purchase” Greenland.

Reactions & Consequences:

* Greenland’s Prime minister protests: The prime minister has joined protests against Trump’s threats (as shown in the accompanying video).
* Currency Impact: The dollar initially dropped significantly against the Swiss franc (4%) and the Japanese yen (0.2%) due to the announcement, though it partially recovered later. This suggests market uncertainty.
* Potential EU Loophole: Businesses within the EU might be able to take advantage of a loophole related to the tariff.

Additional Details:

* Trump’s Announcement: The proposal was made in a lengthy post on Truth Social.
* Greenland’s History with Trump: Trump previously expressed interest in buying greenland, which was met with rejection.

In essence,the text reports on a surprising and potentially disruptive economic threat made by Trump against Greenland,and the initial market and political reactions to it.