Europe threatens to retaliate against Trump's Greenland tariffs with a €93 billion levy on US exports. The EU's response comes after Trump's 'blackmail' over Greenland, with Macron urging member states to activate the bloc's 'trade bazooka'. The UK's car industry faces potential job losses, while European leaders plan to meet Trump at Davos. The Prime Minister pledges further talks with Trump, focusing on the special relationship and keeping bills lower for British families. However, the response is met with criticism from allies and politicians, with Giorgia Meloni and Mette Frederiksen accusing the US of 'blackmail'. The UK warns of a 'dangerous downward spiral' in transatlantic relations, and the car industry faces potential job losses. The US levies will come into force on February 1, with the possibility of an increase to 25% by June 1 if no deal is reached. The European Parliament suspends the implementation of a US-EU trade deal, and European leaders plan to activate the bloc's 'anti-coercion instrument' to limit American technology firms' business in Europe. The situation puts global stock markets under pressure, with the FTSE100 predicted to fall by almost one percent.
