Despite a week of negotiations in Washington, the Korean government failed to prevent potential tariffs threatened by President Trump. While officials claim to have cleared up “unnecessary misunderstandings,” the U.S. is already preparing to publish tariff measures. The key point of contention is the passage of a special law on investing in the United States, which the Korean government hopes to expedite. Concerns remain regarding President Trump’s unpredictable policy shifts and the differing investment priorities between the two countries, potentially leading to further friction.
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Recent data reveals the detrimental impact of President Trump’s tariff policies on American alcohol manufacturers, particularly in Canada. Provincial liquor store boycotts in Quebec and Ontario have led to a staggering 91% decline in U.S. wine sales to Canada since 2024, causing major losses for companies like Brown-Forman and prompting production suspensions at plants like Jim Beam’s. This situation has forced smaller distillers to drastically reduce sales and shift production to Canada, alongside a rise in prices and scarcity of imported goods in American bars. Despite these consequences, the President has shown no inclination to alter his course, even threatening further tariffs on foreign products in response to political disagreements.
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The Canadian economy experienced a stall in November 2025, with GDP measured at zero percent, following a 0.3% drop in October. Declines in goods production, particularly in the manufacturing sector (down 1.3%), offset gains in services. This downturn was significantly impacted by U.S. tariff policies, especially on Canadian manufacturing exports, leading to uncertainty and a cautious approach from businesses. The trade war showed accelerated weakness in the manufacturing sector and led the Canadian Chamber of Commerce to expect little rebound in December.
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President Trump threatened Canada with a 50% tariff on any aircraft sold in the U.S. in retaliation for Canada’s refusal to certify jets from Gulfstream Aerospace. This follows prior threats of tariffs on Canadian goods due to a planned trade deal with China. Trump’s actions were prompted by comments from Prime Minister Mark Carney and also included the decertification of Bombardier Global Express business jets. These actions could be a major blow to the Canadian aerospace industry, which relies heavily on the U.S. market.
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President Trump has announced the US will increase tariffs on South Korean imports to 25%, citing South Korea’s slow approval of a trade deal reached last year. The South Korean government has stated it was not officially notified of the decision and is seeking urgent talks with the US to address the issue. The initial trade agreement included a $350 billion investment from South Korea into the US. Trump has previously used tariffs as a foreign policy tool, most recently threatening Canada and the UK with tariffs in unrelated trade disputes.
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EU lawmakers stall US trade deal in protest over Greenland. It seems the political temperature has risen significantly, and the potential for a trade showdown between the European Union and the United States is brewing. The situation stems from the brewing discontent with the current US administration and their potential policies, specifically focusing on the idea of the US attempting to purchase Greenland.
EU lawmakers appear ready to use trade as leverage, a move that could significantly impact the US. The heart of the EU’s potential strategy, as I understand it, involves targeting trade areas where the US is particularly vulnerable.… Continue reading
Following a July agreement to ease trade tensions, the US threatened tariffs over Greenland, causing a shift in the agreement. This deal, intended to reduce US levies on European goods to 15% and encourage European investment in the US, is now threatened. Influential members of the European Parliament, including Manfred Weber and Bernd Lange, have stated that approval of the deal is not possible at this stage. Due to the US’s actions, the European Parliament has stated the deal is suspended.
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The European Parliament is poised to suspend its approval of the US tariffs deal agreed upon in July, a move likely to be announced on Wednesday. This decision stems from heightened tensions, as the US, under President Trump, considers new tariffs and presses to acquire Greenland. The standstill has caused financial market volatility, with stocks and the US dollar declining, while borrowing costs are rising. The EU had been delaying potential retaliatory measures against US tariffs, but these could be activated on February 7th if the new deal isn’t approved.
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During a meeting at the 80th United Nations General Assembly, President Trump threatened 200% tariffs on French wines and champagne after President Macron declined to join the “Board of Peace” overseeing the Israel-Hamas ceasefire. Trump dismissed Macron’s influence, citing his term ending in 2027 and his inability to run again. Trump also reiterated plans to control Greenland, suggesting tariffs on European countries and not ruling out military force, prompting European states to consider retaliatory measures.
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Global stock markets experienced a sharp selloff following President Trump’s statements to Norway regarding his desire to control Greenland, citing the Nobel Peace Prize as a motivating factor. In response, Trump threatened escalating trade tariffs on the U.K. and E.U. if they did not comply. Analysts suggest that the prospect of renewed trade wars between the U.S. and Europe is driving down equities worldwide. Safe-haven assets like gold have surged as a result, while market watchers assess the potential impact of tariffs and geopolitical tensions.
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John Q. Hosedrinker 
Matt Underwood