0945 GMT - The European Union could impose retaliatory tariffs very quickly if the U.S. follows through with its tariff threats, says Valdis Dombrovskis, European Commissioner for Economy and Productivity, at the World Economic Forum in Davos. "We're now looking at exact ways to respond to the situation... we are obviously willing to engage with United States and find a constructive solution, but also ready to react if this is not forthcoming," he says. The Commissioner says the EU had been preparing retaliatory tariffs last year in the context of previous levies introduced by President Trump. These were ultimately put off after reaching a trade deal with the U.S. "But technically it's ready, so we are actually ready to deploy it very quickly," Dombrovskis says. (don.forbes@wsj.com)

(END) Dow Jones Newswires

0946 GMT - The European Union needs to strengthen its independence in terms of economic stability and security, says Valdis Dombrovskis, European Commissioner for Economy and Productivity at the World Economic Forum in Davos. Amid rising geopolitical challenges, like-minded democratic countries should be working together instead of having disputes among themselves, he says. But friction with Washington highlights that Europe needs to take action to secure its autonomy. "It's clear that we need to stand more firmly on our own feet, both in terms of our economy and becoming also a hard power in terms of security and defense." Threats to the territorial integrity of EU member states are not acceptable, Dombrovskis says, noting that the bloc stands in full solidarity with Denmark and Greenland. (don.forbes@wsj.com)

(END) Dow Jones Newswires

January 21, 2026 04:46 ET (09:46 GMT)

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