Welcome to the CR podcast, unpacking bureau. My name is Elizabetha Cornago, and I am assistant director at the CR, joining you from Brussels.

So Trump's aggressive stance on Greenland has gotten everyone in Europe within heart about transatlantic relations.

Trump's threats have had security repercussions as well as great impacts.

We have discussed the security side of things and the implications of Trump's rhetoric on the NATO alliance

on a recent episode of this podcast where my colleague Arminaban Rai discussed with Stan Rhinning,

Professor of War Studies at the University of Southern Denmark. So do catch up with that one if you missed it.

But today we'd like to focus on a trade indication. So what seems like a ruptuously to ask relations.

And I have the pleasure of welcoming associate fellows of the CR for this very purpose.

So John Springford and Anton Spies up, welcome to you more.

Let's start with you, John. Can you unpack what's going on, really?

So the trade escalation and de-escalation we've seen between the US and Europe in the past two weeks.

Sure, I can do my best and Anton can chime in if I've missed anything.

But broadly, the story is Trump saying he'd imposed tariffs and then backing down.

The longer version is, Trump said he'd imposed tariffs on the European countries

who did military exercises in Greenland in response to his threats to take

over the territory, presumably, preferably by buying it, but he completely failed to rule out the use

of force. And then Denmark, Sweden, Norway, France, Germany, UK and others sent a tripwire set of small forces to Greenland. That

stoked Trump's ire. And he said, OK, I'm going to impose tariffs on you for doing that.

The difference this time round from last year's trade agreements after Trump had done his last round

of tariffs on the UK and And the EU and the UK,

and the EU and agreed to hire US tariffs on EU goods and lower ones on US goods. So they

reduced tariffs on US goods from where they were. Unlike rolling over last year, the EU, but not the UK,

...