US President Donald Trump backs off European tariff threat, announces framework Greenland deal

FXStreetJan 22, 2026 12:12 AM

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US President Donald Trump said he would step back from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland, Bloomberg reported on Wednesday.

He further stated that the United States and the North Atlantic Treaty Organization (NATO) had "formed the framework of a future deal with respect to Greenland.” However, Trump did not detail the parameters of the so-called “framework” and it was unclear what the agreement entails.

Market reaction

At the time of writing, the EUR/USD pair is trading 0.35% lower on the day to trade at 1.1677.

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