European governments are considering imposing up to 93 billion euros ($108 billion) in tariffs or market restrictions on U.S. firms in response to President Donald Trump’s threats to NATO allies opposed to his bid to take over Greenland, the Financial Times reported on Sunday.

The retaliation measures are being drawn up to give European leaders leverage β€Œin pivotal meetings with Trump at the World Economic Forum in ‍Davos this week, the ‍FT report ‍said, citing officials ⁠involved ‍in the preparations for the meetings in Switzerland.

Major EU states including Germany and France decried Trump’s tariff threats as blackmail on Sunday, as France proposed responding with a

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