Germany’s 10-year Bund yield slipped to 2.82% as investors sought safe-haven assets following fresh trade threats from US President Donald Trump, who warned of additional tariffs on eight European countries unless the US is permitted to “buy” Greenland. The UK and Germany, Europe’s most exposed exporters to the US, would bear the brunt of any escalation. Estimates suggest a 10% tariff could trim around 0.1% from GDP, while a 25% levy could cut output by 0.2%–0.3%. Analysts also cautioned that any attempt to seize Greenland would risk severe and lasting damage to NATO cohesion and transatlantic relations. In response, the European Union is weighing sweeping countermeasures, including tariffs of up to €93 billion on US goods.