Trump backtracks on European tariffs, 10% duty on eight nations scrapped

Davos (The Uttam Hindu): US President Donald Trump announced on Wednesday that the US will no longer impose a proposed 10 percent tariff on eight European countries. These tariffs were set to take effect on February 1. Trump made the decision after talks with NATO Secretary General Mark Rutte in Davos regarding Greenland and the Arctic region.

Trump said the meeting laid out the framework for a potential future agreement regarding Greenland and the entire Arctic region, which would benefit the United States and all NATO member states. He wrote on the social media platform "Truth" that based on this understanding, the decision to impose tariffs was being withdrawn.

Trump withdraws tariff threat on European countries, had imposed 10% tariff on 8 countries: It is noteworthy that Trump had earlier warned of imposing 10 percent tariff on European countries opposing America's role in Greenland. However, he softened his stance after reaching an agreement with NATO. Under the Greenland Framework, agreement has been reached between Trump and NATO on many important points. According to this, America and NATO will jointly take responsibility for the security of Greenland and the entire Arctic region. Trump told the journalists that the details of this agreement will be made public soon.

According to a report in the British newspaper Daily Mail, under this framework, the US may be allowed to establish military bases in limited areas of Greenland. These bases would be used for surveillance and defense at all three levels: land, sea, and air. NATO would also cooperate with the US on its proposed "Golden Dome" missile defense system. The framework also includes a partnership with the US in exploiting Greenland's mineral resources and preventing Russia and China from expanding their economic or military influence in the region.