The European Union should use its instruments at disposal against Trump's "economic blackmail", the finance minister said on Monday.
German Vice-Chancellor and Finance Minister Lars Klingbeil told journalists on Monday that the European Union must be prepared to use its full arsenal of retaliatory measures to push back against threats from United States President Donald Trump.
"Europeans must make clear the limit has been reached," the German minister said. "There is a legally established toolbox that can respond to economic blackmail with sensitive measures, we should now examine use."
Over the weekend, Trump said that America will increase tariffs on European goods by 10% if the bloc continues to oppose his efforts to take control of Greenland.
Among the tools the EU can use there is the Anti-Coercion Instrument, which enables the bloc to punish unfriendly states for economic coercion by restricting third countries from participating in public procurement tenders, limiting trade licenses and shutting off access to the single market.
Adopted in 2023, the instrument has never been used, but the US president's escalating threats over the weekend prompted calls for the instrument to be deployed, including from French President Emmanuel Macron.
Former senior EU officials, including former Commissioners Paolo Gentiloni and Cecilia Malmström, have also backed deploying the instrument.