Summary
The European Union is preparing steps to counter threats from President Donald Trump over Greenland. One possible action is the use of an Anti-Coercion Instrument, nicknamed the "trade bazooka," which could impose restrictions or block trade with countries that exert pressure on EU members.
Key Facts
- The EU is considering countermeasures against the U.S. due to threats regarding Greenland.
- The EU mainly uses financial instruments like tariffs to respond to such threats.
- The "trade bazooka" refers to the EU's Anti-Coercion Instrument.
- This tool can block or restrict trade and investment.
- Most EU countries are hesitant about using this instrument.
- French President Emmanuel Macron has mentioned the "trade bazooka."
- The EU is a trading bloc with 27 member countries.
