Donald Trump is once again hinting at using tariffs as leverage, this time targeting Denmark if the country refuses his renewed proposal for the United States to purchase Greenland.
The president-elect made his position clear during a press conference at Mar-a-Lago on Tuesday, warning that he would impose “high-level” tariffs on Denmark if the Danish government continues to resist the offer.
The Greenland Controversy and Tariff Threats
Trump has brought up the idea of purchasing Greenland again, a proposal he first made in 2019.
The Arctic island, an autonomous territory of Denmark, has become a point of contention.
Trump’s son, Donald Trump Jr., arrived in Nuuk, Greenland on Tuesday with three of his father’s allies to meet with local officials and community members.
When asked if he would resort to economic or military pressure to secure the deal, Trump didn’t rule it out, saying, “It might be that you’ll have to do something.”
Impact on Denmark’s Economy and U.S. Drug Prices
While Denmark is not one of the largest trading partners of the U.S., tariffs on Danish goods could still have significant repercussions, particularly when it comes to the price of pharmaceutical products.
Denmark plays a key role in the production and export of weight-loss drugs like Ozempic and Wegovy, both of which are manufactured by Novo Nordisk.
A tariff on these products could drive up prices in the U.S., potentially affecting millions of Americans who rely on them for diabetes management or weight loss.
Dr. Grant Harting, a licensed pharmacist, explained to DailyMail.com that Denmark’s economy has already seen a major boost due to the success of Ozempic and Wegovy.
He noted that lower interest rates in Denmark have even been linked to the success of these drugs.
A tariff on these medications would only worsen the supply issues that have existed since GLP-1 drugs were added to the FDA’s Drug Shortage List in March 2022.
Tariff Effects on Other Danish Imports
In addition to the GLP-1 drugs, Denmark is also a significant supplier of hearing aids, with between 25-30% of U.S. imports coming from the Nordic country. U.S. imports from Denmark totaled $14.6 million in goods in 2024, and a tariff could drastically raise the prices of these products as well.
With tariffs on Danish goods potentially affecting both the weight-loss drug market and the hearing aid industry, millions of Americans could feel the impact of this trade conflict.
Trump’s Broader Tariff Plans
Trump’s tariff threats don’t stop with Denmark.
He has also proposed imposing a 25% tariff on Canada and Mexico in response to the ongoing immigration and border crisis.
On top of that, he has suggested an additional 10% tariff on China, which would be in addition to any other economic sanctions already in place.
Even before taking office, Trump has managed to stir global economic uncertainty with these bold threats and proposals.
Growing Ambitions Beyond Greenland
Trump’s interest in Greenland isn’t his only ambitious plan.
He has also made public his desire to make Canada the 51st state, and he previously proposed acquiring Panama.
As the president-elect gears up for taking office later this month, his proposals continue to shape political and economic discussions worldwide.
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