EU to increase investment in Greenland: von der Leyen

European Commission President Ursula von der Leyen said on Wednesday that the European Union (EU) will step up investment in Greenland, reported Xinhua.

Addressing the European Parliament, von der Leyen said the EU will launch "a massive investment surge" in Greenland, particularly to support the local economy and infrastructure.

She also said the EU will work with the United States and other partners to ensure the security of the Arctic region.

Von der Leyen added that the threat of additional U.S. tariffs was "wrong."

U.S. President Donald Trump said in a social media post on Saturday that the United States would impose a 10-percent tariff starting Feb. 1 on goods from eight European countries opposing his ambition to acquire Greenland, a self-governing Danish territory.

Trump warned the tariff rate would rise to 25 percent on June 1 and remain in place until a deal is reached for the "complete and total purchase" of Greenland.