Hey there, from CNN. I'm David Rind with the five things you need to know for Monday, January 19th.

Financial markets in the U.S. and Europe have taken a hit today as President Donald Trump

continues to threaten Europe with tariffs. If you didn't catch this over the weekend, Trump announced

that starting next month, he would impose a 10% tariff on European countries that are against

his bid to control Greenland. The president didn't say whether the tariff would be on top of what

they're already paying. A spokesperson for the European Commission says that the priority among EU

leaders is to, quote, engage, not escalate, and avoid tariffs. But CNN's Melissa Bell says

they are getting ready to retaliate if needed.

Europe is preparing to respond by a number of different measures, including we understand

the freezing, the pausing of the current trade deal that exists between the United States

and Europe.

There are 93 billion euros worth of retaliatory European tariffs that could be on frozen, these would come

into effect in February.

And then there is that bazooka option.

This is to do with the EU's anti-coercion tool, which would go even further in blocking

American access to European markets.

Meanwhile, Trump is explicitly tying his plans to annex Greenland to his so far unsuccessful bid for a Nobel

Peace Prize.

That's according to a European diplomat who has seen a note that Trump sent to Norway's

Prime Minister.

In it, Trump says he no longer feels obligated, quote, to think purely of peace after he didn't

receive the award.

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