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Core Viewpoint - The article discusses the escalating tensions between the U.S. and Europe due to President Trump's announcement of tariffs on eight European countries, which are linked to the controversial issue of Greenland's ownership. This has led to significant declines in European stock markets and a downturn in the cryptocurrency market [3][8][9]. Group 1: U.S. Tariff Announcement - President Trump announced a 10% tariff on eight European countries starting February 1, which will increase to 25% from June 1, contingent upon negotiations regarding the purchase of Greenland [3][8]. - The tariffs are expected to shrink the Eurozone's GDP by approximately 0.1% to 0.2%, with Germany facing the most significant impact, potentially seeing a GDP decline of up to 0.3% [8]. Group 2: European Market Reaction - European stock markets opened lower, with the French CAC40 index dropping over 1.7%, the UK FTSE 100 down 0.6%, and the German DAX index falling 1.5% [3]. - Notable declines in major French stocks included STMicroelectronics and LVMH, both dropping over 4% [5][6]. Group 3: Cryptocurrency Market Impact - The cryptocurrency market experienced significant losses, with major cryptocurrencies like SOL and DOGE showing notable declines. In the last 24 hours, over 247,900 traders were liquidated, totaling approximately $874 million [6][7]. Group 4: EU Response - The EU held an emergency meeting to discuss potential countermeasures against the U.S. tariffs, agreeing on a list of tariffs worth €93 billion as a response, which had been prepared previously [9]. - The meeting highlighted divisions among EU members regarding the implementation of a "counter-coercion mechanism" proposed by France, which would allow for retaliatory tariffs and investment restrictions [9].