Trump Imposes 10% Tariffs on Eight NATO Countries Deploying Troops to Greenland, Warns Rate Could Rise to 25%

[Financial News]

Donald John Trump, the president of the United States, announced on the 17th (local time) that he will impose a 10% tariff on eight member states of the North Atlantic Treaty Organization (NATO) that have deployed troops to Greenland.
Denmark, Norway, the Kingdom of Sweden, France, Germany, the United Kingdom of Great Britain and Northern Ireland (UK), the Netherlands, and Finland will face a 10% tariff starting on the 1st of next month.
Donald Trump warned that while a 10% tariff will apply from the 1st of next month, the rate could rise to 25% on June 1.
Posting on his social media platform Truth Social the same day, Donald Trump stated that until a deal reaches a fully satisfactory level and the purchase of Greenland is completed, NATO member states that have deployed troops to Greenland will face higher tariffs.
Donald Trump claimed that these eight countries have "embarked on a journey to Greenland for an unknown purpose," arguing that this represents a situation that is highly threatening to the safety, security, and survival of our planet.
A day earlier, on the 16th, Donald Trump had hinted that he might apply to Greenland a tariff strategy similar to the one he previously used to pressure foreign countries to change their drug pricing.
In a speech at The White House, he said, "We may use that method for Greenland as well," adding, "We can impose tariffs on countries that do not cooperate with (the United States') Greenland policy." Donald Trump stressed that "the United States needs Greenland for national security reasons."
The North Atlantic Treaty Organization (NATO), which now has 32 member states and has served as the foundation of Western collective defense since World War II (WWII), has been plunged into a serious crisis amid the Trump administration's unprecedented push to annex the territory of a member state.
European leaders are warning that if the United States attempts to seize Greenland by force, NATO will effectively come to an end.
Donald Trump’s decision to play the tariff card this time appears to reflect an intention to keep NATO intact.
It also suggests that, for now, he has set aside the option of subjugating Greenland by military force. However, conflict with Denmark and Europe is bound to intensify, as they continue to stress that Greenland is not something that can be put up for sale.
dympna@fnnews.com Song Kyung-jae Reporter