According to analysts, the tariff war between the US and the EU is now at step 4 out of 10.
After several European Union countries deployed troops to the latest hot zone, Greenland, the POTUS announced a new set of tariffs against all these countries, effective from February 1 until an agreement for the full takeover of the island is reached.
The EU’s response was immediate, while US Democrats have pushed for legislation to block Trump’s proposed tariffs. Despite all this drama, the price of BTC has remained stable, even though it is the only financial asset available for trading during the eventful weekend.
Latest developments
As reported yesterday, the newly announced tariffs against Denmark, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland will come into effect from February 1. The tax will be 10% on all goods shipped to the US, but if no deal is reached by June 1, the rate will rise to 25%, Trump said.
Shortly afterwards, reports arose that the EU plans to halt the approval of the trade deal with the US after the latest threats. Lawmakers have also scheduled an emergency meeting for today.
This is the fourth step in the trade war, according to analysts at the Kobeissi Letter, who said they have been investigating Trump’s tariff playbook for 12 months. She to believe the financial markets will open lower on Sunday evening and Monday, but Trump will continue to play hardball.
In contrast to the recent fight between the US and China, they noted that the situation in Greenland will take more time because such a potential takeover “cannot happen overnight and in fact the EU remains strongly opposed to the idea of such a transaction.”
The Democrats were reportedly quick to move onto American soil planning to introduce legislation to block the POTUS’s proposed tariffs on EU countries.
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BTC is at a standstill
The trade wars have impacted the primary cryptocurrency in previous cases, especially the first one that unraveled in April 2025. At the time, BTC plummeted from $110,000 to $75,000.
However, the country has proven more resilient during the subsequent tariff battles, and the situation now appears similar, at least so far. Although the cryptocurrency markets are the only ones trading 24/7 and open during this volatile weekend, the price of BTC has remained stable at just over $95,000.
Nevertheless, more swings are expected later today as new developments unfold, the EU holds its meeting and futures markets open.
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