Besent said on Tuesday at Davos that in the face of tense US-EU and US-UK trade relations, all parties should remain calm and avoid escalating actions against the US, saying "the worst approach is to escalate confrontation with the United States." He was referring to concerns from the outside world about the Trump administration possibly imposing punitive tariffs on six EU countries, the UK, and Norway that oppose the US acquisition of Greenland. Besent recalled the market panic when he announced "reciprocal tariffs" in April last year, urging countries to "take a deep breath and let things develop," and emphasized not taking retaliatory actions. Besent also stressed that Trump's strong statements on the Greenland issue differ from general trade negotiations, and called on all parties to abide by existing trade agreements. Although the EU holds an approximately 93 billion euro counter-tariff plan and options such as "anti-coercion tools," EU officials have privately stated a preference for cooling down through diplomacy. UK Prime Minister Starmer also publicly ruled out the possibility of retaliation, stating that a tariff war would not be in anyone's interest. When asked if the US is concerned about the EU or the UK's countermeasures, Besent said plainly: "No."
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