France seeks to convene a meeting of G7 finance ministers as soon as possible, as early as Wednesday, to discuss US President Donald Trump's threats to impose additional tariffs against allies if they oppose his intentions to annex Greenland. This is reported by Bloomberg, writes UNN.
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The French government insists on a strong response to the escalation of threats from the US, including the possible use of Europe's most powerful trade instrument in response — the so-called anti-coercion instrument.
The meeting is certainly aimed at reviewing the G7 agenda, but also at an frank discussion with all G7 members, including the US, regarding this unfortunate situation.
Trump stated over the weekend that the US would impose a 10% tariff on goods from eight European countries starting February 1, which would rise to 25% in June, if no agreement was reached on the "purchase of Greenland." He made this threat after these countries announced their intention to conduct symbolic NATO military planning exercises on the territory of the semi-autonomous Danish territory.
France has held the rotating G7 presidency since early January, but has so far barely outlined its priorities. Last week, the US invited G7 finance ministers and several other states to Washington to discuss ways to counter China's dominance in the rare earth metals market.
According to the French official, this week's meeting of finance ministers will take place via video conference.
Speaking earlier on Monday in Berlin alongside his German counterpart Lars Klingbeil, Lescure noted that Trump's threats to European countries over Greenland represent a "change of scale" and called on Europe to react quickly and decisively.
"These threats are absolutely unacceptable," Lescure emphasized. "We will not succumb to threats or blackmail and want to act quickly as Europeans."