Bitunix Analyst: Greenland Dispute Escalates, US-EU Tariff Standoff Enters New Phase of "Political Blackmail"
TL;DR
US threatens tariffs on EU countries over Greenland purchase, sparking EU backlash and potential retaliatory tariffs. This escalates trade friction into geopolitical tension, impacting global trade, inflation, and risky assets, with crypto markets watching Bitcoin's role as a non-sovereign asset.
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On January 19, US President Trump once again used tariffs as a bargaining chip, publicly threatening to impose tariffs on goods from eight countries, including Denmark, Germany, France, and the UK, starting in February if European countries did not agree to the US's "full purchase of Greenland," with the tariff rate potentially rising to 25% by June. This move quickly triggered a strong backlash from the EU, with many countries calling the action "economic blackmail" and initiating emergency consultations.
The EU is currently assessing the possibility of imposing retaliatory tariffs on approximately €93 billion worth of US goods, and is not ruling out invoking its Anti-Coercion Instruments to restrict US companies' access to EU public procurement, investment, financial services, and trade in services. France and Germany have taken the toughest stance, clearly stating that Europe will not compromise on sovereignty issues; Denmark emphasizes that it will maintain diplomatic dialogue but will not accept tariffs as a negotiating tool.
From a macro perspective, this event is no longer just a simple trade friction, but an extension of the US strategy of highly linking "tariffs, geopolitics, and sovereignty issues." If the confrontation between Europe and the US escalates, it will directly impact global trade confidence, amplify inflation and supply chain uncertainty, and put structural pressure on risky assets.
Bitunix Analyst:
In the short term, deteriorating relations between the US and Europe will fuel market risk aversion, potentially leading to a simultaneous increase in volatility for both the US dollar and US Treasury bonds. In the medium term, if the EU formally retaliates, the risk of global trade fragmentation will be priced in again. In the long term, attention must be paid to whether the "politicization of tariffs" becomes the new legitimate norm, which will profoundly impact global capital flows and risk appetite. For the crypto market, heightened macroeconomic uncertainty often reinforces Bitcoin's narrative as a "non-sovereign asset," and its performance will depend on changes in market confidence in the stability of the traditional financial system.