Treasury Secretary Scott Bessent said the United States plans to move forward with a trade deal with the European Union, even as EU lawmakers say they will delay the agreement following President Trump’s recent comments regarding Greenland.
“We’re in the midst of completing a very good trade deal for both sides, so the plan is to go ahead with the trade deal,” Bessent said Tuesday while speaking at the World Economic Forum in Davos, Switzerland.
European lawmakers have warned they would hold up implementation of the deal after President Trump threatened additional tariffs over the weekend on eight European countries that opposed his stated interest in acquiring the Arctic territory.
Trump also threatened tariffs of up to 200 percent on French wines and champagnes if President Emmanuel Macron declines to participate in an expanded Gaza Board of Peace.
Bessent cautioned EU officials against responding to the tariff threats with retaliatory measures. “I would say exactly what I said after ‘Liberation Day’ last April when the president imposed tariff levels on the whole world. I tell everyone sit back, take a deep breath, do not retaliate,” he said.
Later in an interview with Fox News, Bessent accused European nations of indirectly funding Russia’s war effort, arguing that continued purchases of Russian oil amount to financing the conflict. “They are financing the war against themselves,” Bessent said.
Source: The Wall Street Journal
