BRUSSELS: The European Commission said on Friday it would propose extending for another six months the suspension of an EU retaliatory trade package against the United States worth €93 billion ($109.19 billion), which would otherwise take effect on February 7.
The pact was prepared in the first half of last year during negotiations between the European Union and the United States on a trade agreement, and was initially put on hold for six months after Brussels and Washington reached a joint trade statement in August 2025.
US President Donald Trump’s recent threat to impose new tariffs on eight European countries—linked to Washington’s push to acquire Greenland.
European countries strongly opposed the US move, voicing firm support for Denmark’s sovereignty and territorial integrity. Following President Trump’s tariff threats last week, the European Union pledged to respond with countermeasures if necessary.
However, Trump adopted conciliatory tone on Thursday after meeting NATO Secretary General Mark Rutte in Davos, saying they had discussed a framework for an agreement on Greenland aimed at addressing US security concerns and countering Russian and Chinese influence.
Speaking at the EU Commission’s midday briefing in Brussels, spokesperson Olof Gill said the bloc achieved its objectives through diplomatic and political means, following Washington’s decision to remove the threat of new tariffs.
“With the removal of the tariff threat by the US, we can now return to the important business of implementing the joint EU-US statement,” he said.
Gill said the Commission will shortly propose extending the suspension of its countermeasures, which are due to expire on February 7, for an additional six months.
“Just to make absolutely clear — the measures would remain suspended, but if we need them at any point in the future, they can be unsuspended,” Gill said.
