Brendan Murray

It feels like both sides, after a really whiplash sort of week,

are walking away feeling like they both came away with a win.

You have President Trump going back to Washington saying, they're going to give me everything I want on Greenland, although a lot of those details still need to be worked out about sovereignty and territorial integrity.

And you have the Europeans saying, look, we threatened to retaliate against the tariffs that he was threatening against us.

With a lot of our strongest weaponry, we did it in a unified way.

And President Trump ultimately backed down from those tariff threats.

The markets don't like the fact that we could be headed back to a transatlantic trade war.

France has been one of the strongest countries to come out against the latest tariff threat from President Trump, saying that the European Union should use its strongest weapons to retaliate.

We heard Treasury Secretary Besant this morning say he didn't specify Europe, but he said what's in your best interest is to not retaliate and to just go along with the trade deal that the U.S.

has negotiated with you.

To a lot of folks, other countries, the trading partners that are getting burned by these tariffs that the U.S.

is applying on their exports,

They're going elsewhere and they're trying to sign deals and they're trying to rebuild relationships as Mark Carney of Canada did with his counterparts in Beijing last week.

Canada made no, they weren't shy about the fact that they are now seeing China as a more reliable trading partner than the U.S.

Remember, over the weekend, we had the Europeans, the European Union, signing a new free trade agreement with the Mercosur countries in South America.

Canada made no, they weren't shy about the fact that they are now seeing China as a more reliable trading partner than the US.

Remember over the weekend, we had the Europeans, the European Union signing a new free trade agreement with the Mercosur countries in South America.