If economic sanctions are designed to apply pressure without firing a shot, then U.S. President Donald Trump has aimed at America's closest military allies.

Economic ties between the U.S. and Europe could be damaged if Trump moves to take the Danish territory.

President Donald Trump said Friday more tariffs could be coming against countries in opposition of his plan to seize Greenland, a territory of Denmark.

Trump recently hinted that he may pursue a tariff strategy on Greenland similar to the one he used to force foreign countries to change their drug prices.

"On top of everything else, Denmark, Norway, Sweden, France, Germany, The United Kingdom, The Netherlands, and Finland have journeyed to Greenland, for purposes unknown."

Donald Trump said he will impose a 10% tariff—that will rise to 25%—on European countries that don’t support his controversial plan to take over Greenland.

Donald Trump threatened to impose a 10% tariff from February 1 on all goods sent to the US from eight European countries. That levy would be increased to 25% on June 1 'until such…

Losses on stocks likely with precious metals forecast to spike even higher after move to impose 25% levies on European allies

In addition to limiting trade in goods and services, the anti-coercion instrument could also target foreign direct investment and financial markets.

The European Union is having an emergency meeting to devise a response to Trump's tariff threats over Greenland.

"Europe owns Greenland, it also owns a lot of Treasuries."

If economic sanctions are designed to apply pressure without firing a shot, then U.S. President Donald Trump has aimed at America's closest military allies.

They're also intensifying efforts to persuade the President against imposing the levies over Greenland.

European Union ambassadors convened in an emergency meeting Sunday following President Donald Trump's threat to impose tariffs on eight NATO nations.

If economic sanctions are designed to apply pressure without firing a shot, then U.S. President Donald Trump has aimed at America's closest military allies.

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European countries are reportedly considering retaliatory tariffs and wider economic counter-measures against the U.S.

U.S. President Donald Trump's has threatened a rising wave of tariffs on several European allies, sounding the alarm for businesses across the region.

"While in many ways it feels like the U.S. holds the economic cards, it doesn’t hold all the funding cards in a world that will be very disturbed by the weekend’s events."

Europe is weighing up how to counter the US president's move against some of America's closest allies.

Europe could use powerful but untested law amid pressure over Greenland – but it could also lose out from a trade war