The German and French finance ministers said European powers would not be blackmailed and there would be a clear and united response to threats to escalate US tariffs over Greenland, Reuters reported.
President Donald Trump on Saturday threatened to impose a series of escalating tariffs on imports from European allies until the United States is allowed to buy Greenland. The threat has exacerbated a dispute over the future of Denmark's vast Arctic island.
"Germany and France are unanimous: we will not allow ourselves to be blackmailed", German Finance Minister Lars Klingbeil stressed at his ministry, where he received his French counterpart.
"Blackmail between allies of 250 years, blackmail between friends, is clearly unacceptable", French Finance Minister Roland Lescure also stressed.
EU leaders will discuss options at an emergency summit in Brussels on Thursday. One option is a package of tariffs on 93 billion euros of US imports, which could automatically take effect on February 6 after a six-month hiatus.
"We Europeans must say clearly: the limit has been reached," Klingbeil said. "Our hand is outstretched, but we are not prepared to be blackmailed".
The other option is the previously unused "Anti-coercion Instrument", which could restrict access to public tenders, investments or banking, or restrict trade in services where the US has a surplus with the bloc, including digital services.
Lescure said that while the EU's anti-coercion instrument is primarily a deterrent, it should be considered in the current circumstances.
"France wants us to explore this option, hoping of course that deterrence will prevail," he noted, expressing hope that transatlantic relations would return to being "friendly and based on negotiations, not threats and blackmail.".
Klingbeil said he had no interest in escalation, as this would come at the expense of economies on both sides of the Atlantic.
Their American counterpart Scott Bessent yesterday stressed that European "weakness" requires the US to take control of Greenland for global stability.
Lescure pointed out that Europe must adopt reforms to increase its technological advantage and productivity, so as to prove that it is strong, not weak.
"Our goal in the coming days, weeks, quarters and years is to politely but firmly convince Scott Bessent that he is wrong," he stressed.