The president escalated his drive to take charge of the Danish territory, targeting Denmark and seven other European countries with a 10 percent rate.

Trump said the 10% duties on eight European countries would increase to 25% on June 1 unless a deal is reached.

US President Donald Trump said he is considering applying new tariffs on countries that oppose his ambition of annexing Greenland.

Following the Trump administration's recent tariff threat on European allies, some experts warn it may push Europe closer to China, and potentially see the European Union use its anti-coercion instrument,

The Trump administration has numerous tariffs in place, impacting global trade and relations with dozens of countries. Here's what to know.

The dollar sank 0.31% against the euro to $1.16 and tumbled 0.32% against the yen to 157.58. Meanwhile, gold rose 1.95% to a fresh record of $4,684.30 per ounce. Silver jumped 5.66% to $93.53, also a new high. Due to the Martin Luther King Jr. Day holiday on Monday, U.S. stock and bond futures were inactive.

Donald Trump says he'll impose 10% tariffs on eight European allies including Germany, France, Britain, Sweden, Denmark, Finland, Norway and the Netherlands who are opposed to his plan to purchase Greenland.