Macron urges the EU to activate its anti-coercion tool against the US after Trump’s Greenland tariffs, a move that could block US banks and tech firms from EU markets.

In January 2026, following U.S. President Donald Trump's announcement of tariffs on several European countries related to his interest in acquiring Greenland, French President Emmanuel Macron publicly called for the European Union to deploy its anti-coercion instrument. This tool, described as the EU's most powerful trade defense mechanism and sometimes referred to as a 'trade bazooka,' was adopted in 2023 but had not been used before.

Macron's push aims to counteract what he and other EU officials view as coercive trade measures by the U.S. The anti-coercion instrument allows the EU to impose retaliatory measures that could include limiting imports, restricting access to public tenders, investments, banking activities, or trade in services where the U.S. Has a surplus.

Several sources explicitly mention that this could affect U.S. Banks and tech companies by potentially blocking or restricting their operations within EU markets. The context is a broader diplomatic and trade standoff triggered by Trump's Greenland tariffs, which NATO allies and EU members see as risking a dangerous downward spiral in transatlantic relations.