Trump rows back on UK tariff threat

Donald Trump has withdrawn, for the time being at least, his threat to impose additional trade tariffs on eight European countries, as punishment for their stance on Greenland.

He said that he had agreed “the framework of a future deal” on Greenland following a meeting with Nato secretary general, Mark Rutte, meaning that his trade war can remain on the back burner for now.

Additional tariffs of 10% (which he even threatened to raise to 25% at one point) on the UK, Denmark, Norway, Sweden, France, Germany, the Netherlands, and Finland, were potentially going to come into force on 1 February, had he followed through with his initial threat.

“I will not be imposing the tariffs that were scheduled to go into effect on February 1,” the President said.

This news will come as a particular relief to British watch brands, as the propect of these punitive measures had caused consternation among them, as reported in Watch Insider at the start of week.