Donald Trump appears unfazed by European reactions regarding Greenland, as in the early hours of Monday he wrote on Truth Social that “now is the time and it will happen” when referring to his plans for the United States to acquire the Arctic island.

Trump’s post came just a few hours after a Bloomberg report that European Union member states are discussing various options on how to respond to the American president’s threat to impose tariffs, with one proposal even calling for the suspension of the trade agreement with the United States.

The EU’s response was the subject of a meeting convened on Sunday in Brussels by the Cypriot presidency, where ambassadors of the member states sought to shape a common response to Trump’s threat.

Late on Sunday, it also became known that the President of the European Council, António Costa, had called an extraordinary European Council summit, against the backdrop of Greenland and the threat of tariffs on eight countries, six of which are EU members. According to an EU official and a diplomat familiar with the planning, the summit is scheduled for Thursday, January 22.

One of the proposals under discussion, according to the news agency, is the imposition of countervailing tariffs on U.S. products worth €93 billion.

There was also discussion of using the powerful Anti-Coercion Instrument, a “bazooka” initially designed to counter China’s bullying tactics, which would allow Europe to impose tariffs and investment restrictions on countries that violate the rules.

This instrument provides a wide range of possible countermeasures, including the imposition of tariffs, restrictions on trade in services and on aspects of trade-related intellectual property rights, as well as limits on access to foreign direct investment and public procurement.

Earlier on Sunday, Emmanuel Macron had proposed that the EU consider using this instrument, although France had avoided using it in the past.

Last year, the EU approved retaliatory tariffs on U.S. products worth €93 billion, but suspended their implementation after a trade agreement was reached between the two sides.

Over the weekend, Members of the European Parliament proposed postponing approval of the trade agreement, citing precisely Trump’s latest move.

On Saturday, the U.S. president had threatened to impose 10% tariffs on eight European countries (the United Kingdom, France, Germany, Denmark, Norway, the Netherlands, Sweden and Finland) starting on February 1, in response to their actions regarding Greenland. If full annexation did not proceed, the tariffs would rise to 25% starting on June 1.