The European Union and the Mercosur bloc of South American countries have formally signed a long-sought landmark free trade agreement.

Trump's pursuit of Greenland is driving up tension with European Union. The strength of the U.S. dollar also weakened Tuesday.

The European Union is on the verge of concluding a free trade agreement with India, although work remains to get it over the line, European Commission President Ursula von der Leyen said in a speech at the World Economic Forum in Davos on Tuesday.

Against tough odds, the European Union and four key South American countries are closer than they've been in 25 years to signing a long-delayed free trade deal.

Representatives of the European Union and South American nations signed a free trade agreement on Saturday, but the deal is not final until approved by a vote of the European Parliament.

France supports the suspension of a trade deal between the European Union and the United States, Foreign Minister Jean-Noel Barrot told parliament on Tuesday, as a row over the future of Greenland intensified.

French President Emmanuel Macron will request the activation of the European Union’s anti-coercion instrument amid increasing calls for the region to retaliate against US President Donald Trump’s new tariffs on European countries over Greenland.

President Trump threatened to impose new tariffs on European allies as he continues his bid to acquire Greenland. Ambassadors from the European Union held an emergency meeting in Brussels to discuss the next steps in a coordinated response to any move that jeopardizes European security.