Macron says EU ‘shouldn’t hesitate’ in using anti-coercion instrument on US after Trump Greenland threats
Trump has repeatedly insisted he will settle for nothing less than ownership of Greenland
French President Emmanuel Macron said the European Union should not bend to "the law of the strongest" and that it was staggering the bloc was having to contemplate using its "anti-coercion instrument" against the United States.
"We do believe that we need more growth, we need more stability in this world, but we do prefer respect to bullies," Macron told the World Economic Forum in Davos, speaking in English.
"We do prefer science to (conspiracies) and we do prefer rule of law to brutality."
He added that the EU "should not hesitate" in using the anti-coercion mechanism in face of President Donald Trump’s Greenland tariff threats.
His remarks come after U.S. Treasury Secretary Scott Bessent expressed confidence Tuesday that the U.S. and European countries would find a solution over the U.S. administration's aim to take over Greenland, brushing off "hysteria" about a possible trade war.
Trump announced tariffs Saturday on imports from European allies that oppose the United States taking over Greenland, an autonomous part of the Kingdom of Denmark.
European countries say new tariffs would violate a trade deal reached with Trump last year, and EU leaders are set to discuss possible retaliation at an emergency summit in Brussels on Thursday. One option is a package of tariffs on 93 billion euros ($108 billion) of U.S. imports that could automatically kick in on February 6 after a six-month suspension.
Bessent said the issue had only recently emerged and a solution would be found that ensures national security for the United States and Europe.
"It's been 48 hours. As I said, sit back, relax," Bessent told reporters on the sidelines of the World Economic Forum annual meeting in Davos, Switzerland. "I am confident that the leaders will not escalate and that this will work out in a manner that ends up in a very good place for all."
Asked about the prospect of a prolonged trade war between the United States and Europe, Bessent replied: "Why are we jumping there? Why are you taking it to the worst case?... Calm down the hysteria. Take a deep breath."
Trump has repeatedly insisted he will settle for nothing less than ownership of Greenland. Leaders of both Denmark and Greenland have said the island is not for sale and does not want to be part of the United States.
Bessent dismissed the possibility the EU would for the first time tap its anti-coercion instrument, a powerful trade measure which could limit U.S. access to public tenders, investments or banking activity, or restrict trade in services.
"Well, having worked with the Europeans, my guess is their next move will be to form a working group, the dreaded 'European working group'," Bessent said in an interview with CNBC. "We've seen a lot of working groups."
In his earlier briefing, Bessent also dismissed market speculation that European governments might sell U.S. Treasury bonds they own as reserves, making it more expensive for the U.S. government to finance itself.
"(U.S. government debt) is the most liquid market, it is the basis for all financial transactions and I am sure that the European governments will continue holding it," Bessent said.
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