Trump Targets Greenland in Tense Economic Standoff with Denmark
Donald Trump's latest attempt to claim Greenland has sparked a confrontation with Denmark, which wields significant economic influence over key U.S. products, especially pharmaceuticals.
Donald Trump's renewed push to take control of Greenland is setting off a high-stakes showdown with Denmark, a small country with surprisingly big economic power. While Denmark might not have a military capable of standing up to the U.S., it has something just as powerful -- control over key products that millions of Americans rely on every day.
Trump has long wanted to bring Greenland under U.S. control, arguing it's vital for national security.
"I'm talking about protecting the free world. You look at; you don't even need binoculars; you look outside," he said last month. "You have China ships all over the place. You have Russian ships all over the place. We're not letting that happen."
Vice President JD Vance recently said that Trump "doesn't care what Europeans scream at us" and refused to rule out the use of military force.
Trump's latest strategy? Tariffs. He recently threatened to impose a 25% duty on all imports from Mexico and most from Canada, along with a 10% tariff on Chinese goods. He hinted that Denmark could be next if it refuses to give up Greenland.
Denmark's response? A firm "No" backed by European allies. Greenland's prime minister made it clear: "Greenland belongs to the people of Greenland." But Denmark isn't just pushing back with words. It has economic weapons that could cause immediate pain for U.S. consumers.
Denmark may be small, but it holds the keys to critical industries that Americans depend on, especially pharmaceuticals and global shipping.
Denmark is home to Novo Nordisk (NYSE:NVO), the company behind Ozempic and Wegovy, two of the most in-demand drugs in the U.S. for weight loss and diabetes treatment. With demand for those drugs skyrocketing, Novo Nordisk has been expanding production in the U.S. But the active ingredient, semaglutide, is made in Denmark. If Denmark ordered Novo Nordisk to stop supplying the U.S., the supply of the drugs in the U.S. would disappear overnight.
