The tariff package appeared to command broader support as a first response than anti-coercion measures, where the picture was currently "very mixed", according to an EU source. The tariff threat unsettled global markets, with the euro and sterling falling against the dollar and a return to volatility expected. Question marks over US trade dealsA source close to French President Emmanuel Macron said he was pushing for activation of the ACI. The tariff threats do though call into question trade deals the U.S. struck with Britain in May and the EU in July. The European Parliament looks set to suspend its work on the EU-U.S. trade deal.

Source: Irish Independent January 19, 2026 10:01 UTC