- Trump would ‘tariff Denmark at a high level’ if they resist him buying Greenland
Donald Trump threw out yet another threat of tariffs when he floated hitting Denmark with the economic punishment if it did not consider his proposal for the U.S. to buy Greenland.
But there are concerns that if tariffs came to fruition, it would raise the prices of the very popular and highly sought after weight-loss drug GLP-1 found in Ozempic and Wegovy.
During a press conference at Mar-a-Lago on Tuesday, the president-elect warned that he’d ‘tariff Denmark at a very high level’ if they continue to resist the offer.
Trump reupped this week his 2019 idea for the U.S. to purchase the arctic island, which is an autonomous territory of Denmark. His son, Donald Trump Jr., landed in Nuuk, Greenland on Tuesday along with three allies of his father’s to meet with members of the community.
He wouldn’t rule out the potential of using economic or military coercion to gain control of Greenland.
‘I’m not gonna commit to that, no,’ Trump told reporters when asked about taking action to get what he wants. ‘It might be that you’ll have to do something.’
Denmark is by far not one of the largest trading partners of the U.S., coming in 41st on the list.
But still, higher prices on Danish products would be felt by millions of Americans who use hearing aids or those taking medications for diabetes or to manage weight.
President-elect Donald Trump said he would ‘tariff Denmark at a very high level’ if they resist his offer for the U.S. to buy their territory of Greenland
More than 75 percent of U.S. insulin imports came from Denmark last year, reports Barrons.
Tariffs on Danish products also threaten to increase the price of blockbuster GLP-1 drugs like Ozempic and Wegovy – the former marketed for diabetes and the latter for managing obesity or expediting weight loss.
Additionally, between 25 percent and 30 percent of hearing aid imports came from the Nordic country.
Denmark shipped $14.6 million in goods to the U.S. from January through November of 2024.
The country has an economy the size of the state of Missouri.
Trump has also said he plans to impose 25 percent tariffs on Canada and Mexico in response to the immigration and southern border crisis. And wants to put an additional 10 percent tariff on China on top of any other economic restrictions against Beijing.
Before even taking office, Trump has affected much of the world economy with just threats of what he plans to do once he takes the oath later this month.
In addition to wanting to purchase Greenland, the president-elect is also getting more serious about Canada becoming the 51st state.
He also previously proposed acquiring Panama.
If tariffs were imposed on Denmark, Americans would see a spike in the price of weight-loss pharmaceutical GLP-1 found in drugs like Ozempic and Wegovy, as well as on hearing aids and insulin
