Yesterday, Donald Trump threatened to impose 200% tariffs on French wines and champagnes in response to Emmanuel Macron's refusal to join his Peace Council. "Did he really say that? Nobody wants [Emmanuel Macron], because very soon he will no longer be in power. It doesn't matter," he quipped to journalists from an airport in Florida, before departing for the World Economic Forum in Davos, Switzerland. Following these threats targeting the sector, LVMH and Rémy Cointreau tumbled in Paris, as did Diageo in London.

On Saturday, the American president confirmed he will impose an additional 10% tariff starting February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Great Britain. This rate will rise to 25% on June 1 if no agreement is reached on Greenland, a territory coveted by the United States.

On this matter, Trump asserted that European leaders will not "resist much" his plan to seize Greenland.

"The stunned reaction from Europeans was unanimous: avoid any escalation and prioritize negotiation with the United States. Nevertheless, European leaders' comments also converged on defending Greenland's independence within the Kingdom of Denmark, the European Union, and NATO, as well as on rejecting American blackmail," emphasized Sebastian Paris Horvitz, Director of Research at LBP AM.

"The outcome of this new crisis sparked by the United States remains difficult to determine at this stage. Nonetheless, it is clear that it is creating significant uncertainty and hindering economic expansion on both sides of the Atlantic," he added.

Renault Outperforms

 On the stock front, Renault (+0.39% at 31.27 euros) is among the CAC 40's top gainers thanks to a strong commercial performance in 2025. The automaker's sales rose 3.2%, to nearly 2.337 million units, in a market up just 1.6%. In addition, TotalEnergies (+0.32% at 56.29 euros) edged higher after reporting a rise in its European refining margin in the fourth quarter, a positive trend accompanied by a sharp increase in production. Capgemini, however, fell nearly 3%. In a statement to AFP, the digital services company said it is considering up to 2,400 job cuts through redeployment and voluntary departures. This decision aims to address the slowdown in activity in France.
In Europe, German consumer goods group Henkel slipped slightly in Frankfurt after confirming talks with Wendel to acquire Dutch company Stahl (a specialist in chemicals for surface treatment and coatings, part of Wendel's portfolio).

This Tuesday, Wall Street will resume trading after a long weekend due to Martin Luther King Day.