Dec 31, 2025 – The administration fails to launch the promised External Revenue Service and several high‑profile tariff proposals (200% whiskey, 100% film, 100% pharma) never materialize, highlighting a pattern of unrealized trade threats [20].

Aug 2025 – A U.S. appeals court rules most of Trump’s tariffs illegal but leaves them in place while the administration seeks a Supreme Court ruling, keeping the threat alive for future action [4].

June 2025 – The United Kingdom secures a U.S. trade deal limiting tariffs to 10% on the first 100,000 exported vehicles, the lowest rate among U.S. partners, though the broader tariff framework remains under pressure [4].

Jan 2, 2026 – The White House announces a 92% cut to proposed tariffs on certain imported pasta after industry engagement, showing selective rollback amid broader tariff disputes [4].

Jan 13, 2026 – The United States imposes a 25% tariff on countries continuing to trade with Iran following Tehran’s crackdown on protests, linking trade measures to geopolitical events [4].

Jan 17, 2026 – President Trump announces a 10% tariff on eight European nations that oppose his Greenland plan, warning the rate could rise to 25% and remain until a deal is reached [4].

Jan 18, 2026 – Trump formally imposes the 10% tariffs on Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom, with a possible increase to 25% in June; EU leaders, including President Macron, signal readiness to deploy the anti‑coercion instrument (“trade bazooka”) in response [8][13].

Jan 19, 2026 – Trump reiterates the 10% tariff threat from his West Palm Beach golf club, tying it to Greenland opposition; the EU condemns the move as economic coercion, convenes emergency talks in Brussels, and readies the anti‑coercion instrument while noting the €93 bn retaliatory tariff package [18][8]; gold spikes to a record $4,689.39/oz and silver to $94.08/oz as investors flee to safe havens [3]; the IMF warns that escalating trade tensions remain a “main risk to global growth” in its latest outlook [3]; U.S. futures point to a soft market opening, and analysts project a 1‑3% lower start for U.S. stocks [12].

Jan 20, 2026 – U.S. equities tumble, with the S&P 500 down ~2% and the Dow off ~877 points, after the tariff threat is processed following the Martin Luther King Jr. holiday; gold and silver rally 3‑7% while Bitcoin retreats from $96,000 to about $89,700 [17][21].

Jan 21, 2026 – The European Parliament suspends approval of the July Turnberry U.S.–EU trade deal, citing Greenland‑related sovereignty concerns and warning that €93 bn of U.S. tariffs could be re‑imposed on Feb 7 unless the pause is extended [1][10]; a bloc of MEPs blocks a vote to ratify the deal, reflecting heightened political pressure [7]; meanwhile, after Trump posts that a NATO meeting produced a “framework for a future Greenland and Arctic deal” and that tariffs will not be imposed, U.S. markets rebound sharply, with the Dow up 589 points and the S&P 500 gaining 1.16% [6][16].

Jan 22, 2026 – Following a Davos meeting with NATO Secretary‑General Mark Rutte, Trump withdraws the planned tariffs, declaring a “framework of a future deal” on Greenland and prompting U.S. indices to rise (S&P 500 +0.5%, Dow +306 points) and European markets to rally [9][15].

Jan 23, 2026 – The reversal of the Greenland tariff threat fuels a two‑day stock rally, lifting the Dow further and sending gold above $4,900/oz and silver past $100/oz, while analysts shift focus to upcoming earnings and the Fed’s first policy meeting of the year [5].

Feb 3, 2026 – European allies accelerate diversification away from U.S. digital services and increase gold holdings, a strategic response to a year of unpredictable American tariffs that includes the Greenland episode [14].

Feb 7, 2026 (anticipated) – The EU’s suspension of the €93 bn retaliatory tariff package expires; unless the Parliament extends the pause, the bloc could re‑impose the tariffs on U.S. goods, re‑activating the anti‑coercion instrument as a “trade bazooka” [1][2][8].