Erica Herskowitz

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I'm Erica Herskowitz.

German Chancellor Friedrich Merz indicated Germany is less willing than France to unleash the European Union's strongest trade countermeasure in response, but would back its deployment if necessary.

This after Germany's finance chief said President Trump has reached a red line with his threat to hit NATO allies with additional tariffs for opposing his bid to annex Greenland.

The EU is discussing imposing tariffs on more than $108 million worth of U.S.

goods if Trump follows through on his threat.

EU leaders will hold an emergency meeting to explore possible retaliatory measures.

The EU has legally established a toolbox that can respond to economic blackmail with sensitive measures and some leaders urging the use of the anti-coercion instrument, which has never been used.

to respond to Trump's threats.

In an interview with NBC's Meet the Press on Sunday, Treasury Secretary Scott Besson said the U.S.

won't back down on taking over Greenland, citing the continent is too weak to ensure its security.

Treasury Secretary Scott Besant.

Meanwhile, UK Prime Minister Keir Starmer is taking a stand against Trump's threats of new tariffs on European nations and says they would damage the British economy, adding the use of tariffs against allies is completely wrong.

UK Prime Minister Keir Starmer.

In Europe, stocks are slumping and gold hit a fresh record as trade tensions between the U.S.

and Europe flare.

But Hennion and Walsh Asset Management CIO Kevin Mann says it's important for investors not to overreact.

Hennion and Walsh Asset Management CIO Kevin Mann.

The tensions are also adding to the significance of a pending U.S.

Supreme Court ruling on some of Trump's earlier tariffs, with a decision possible as soon as tomorrow.