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UK Faces Recession Risk Amid Trump’s $29.5B Tariff Threat Over Greenland Bid

UK Faces Recession Risk Amid Trump’s $29.5B Tariff Threat Over Greenland Bid

Author:

Global Cryptocurrency

Published:

2026-01-20 01:39:01

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BTCCSquare news:

The UK economy teeters on the brink of recession as former President Donald TRUMP threatens $29.5 billion in tariffs targeting eight European nations, including Britain. The proposed 10-25% import taxes—contingent on blocking his Greenland acquisition plan—could slash UK GDP by 0.3-0.7%, warns Capital Economics.

Trade tensions escalate as Trump issues an ultimatum: approve his purchase of the autonomous Danish territory by February 1 or face punitive measures. The MOVE signals a potential transatlantic trade war, with analysts noting the UK's particular vulnerability given its deep economic ties to the US market.

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