The European Parliament has suspended the ratification process of the US trade agreement following threats from Donald Trump, who announced plans to impose 200% tariffs on French wines and champagnes as retaliation for France's refusal to join his proposed 'Peace Council'. Emmanuel Macron addressed Davos, condemning the 'crazy' situation where the EU might need to use anti-coercion tools against the US, and emphasized Europe's powerful trade tools, including the EU's anti-coercion instrument, to defend its interests. Macron also highlighted the need for the G7, which France presides over in 2026, to serve as a forum for frank dialogue and collective solutions, and called for increased European investment in innovation sectors like AI and green technologies. Meanwhile, Ursula von der Leyen assured a 'firm' response to Trump's threats, reaffirming the EU's support for Greenland's sovereignty, which she called 'non-negotiable,' and emphasizing the importance of multilateralism and strategic independence. The summit also saw tensions over the Greenland dispute, with Trump planning a 'meeting of different parties' to address the issue, while European leaders, including Macron, warned against escalation. The forum's broader context involves US-EU tensions, with Trump threatening tariffs and asserting US dominance, while China defends multilateralism and criticizes unilateral actions. The summit continues amid protests and high-level speeches from leaders like Macron, Macron's proposal for a G7 meeting with Russia, and Trump's provocative social media posts, including an AI-generated image of planting a US flag on Greenland. The European stock markets opened lower, reflecting global economic uncertainties amid these geopolitical tensions.