Erica Herskowitz

According to people familiar with the matter, Trump wants the full constitution and remit of the committee signed in Davos on Thursday, where the World Economic Forum is getting underway today.

President Trump is set to make an appearance at the annual meeting of political and business elites for the first time in six years.

The White House says Trump's Wednesday speech will emphasize that the U.S.

and Europe must leave behind economic stagnation and the policies that caused it.

European leaders are reeling from President Trump's threat to impose tariffs on eight European NATO allies for pushing back against the president's bid to annex Greenland, which effectively rips up last year's EU-U.S.

trade accord leaders hoped would stabilize the transatlantic relationship.

The EU is discussing imposing tariffs on $108 billion of U.S.

goods if Trump doesn't back down.

The bloc has already approved the measures, and they could be implemented quickly if needed, with a list of products targeting American industrial goods, including Boeing, U.S.-made cars, and bourbon.

But German Chancellor Friedrich Merz is trying to persuade French President Emmanuel Macron to tone down his response after he said he intends to request the activation of the European Union's anti-coercion instrument.

Merz said Germany is less willing to unleash the bloc's strongest trade countermeasure due to its heavier dependence on exports.

Bloomberg's Oliver Crook says European leaders seen this new tariff threat as inappropriate and may be a red line for them.

Bloomberg's Oliver Crook.

Meanwhile, Bloomberg's Brendan Murray says countries are already starting to look elsewhere for trade partners.

Bloomberg's Brendan Murray.

Trump's latest tariff announcements sent European shares tumbling from near record highs.

The FTSE in London fell two-thirds of a percent.

The CAC in Paris slumped one and three-quarters percent.

And the DAX in Germany fell one and two-thirds percent.

U.S.