Europe's economic outlook could face renewed pressure if President Donald Trump follows through on his latest tariff threats tied to Greenland, according to Goldman Sachs.

In a research note published late Sunday, Goldman Sachs economist Giovanni Pierdomenico assessed the potential fallout from Trump's announcement that the U.S. could impose sweeping tariffs on imports from eight European countries unless negotiations begin for what he described as the complete and total purchase of Greenland.

On Monday, Trump said NATO had warned Denmark for two decades that it "has to get the Russian threat away from Greenland," arguing that Copenhagen has failed to act and declaring, "Now it is time, and it will be done."

Tariffs Could Hit Exports And GDP

While Goldman Sachs indicated that implementation remains highly uncertain, he warned that even limited tariffs could weigh on growth across key European economies, with risks rising sharply if tensions escalate.

Trump said the U.S. would impose a 10% tariff starting February 1, 2026, on imports from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands ...