Quick analysis by the researchers finds that the 10% Greenland tariffs would shave 0.04% from the EU’s output and 0.02% from America’s. Should Mr Trump increase tariffs to 25%, as he has said he will do by the summer if Europe does not consent to his takeover of Greenland,

The heads of state of all 27 European Union nations will meet for an "extraordinary meeting" later this week, European council president Antonio Costa said on Sunday.

Macron condemns Trump's tariff threats as "useless aggression" at Davos, while EU leaders promise united response to Greenland acquisition plans.