Trump’s Claims Of Tariffing ‘Denmark At A Very High Level’ Might Affect Access Of Ozempic, Legos And Hearing Aids

President-elect Donald Trump has proposed imposing steep tariffs on Denmark if it refuses to cede Greenland, an autonomous territory within the Kingdom of Denmark, to the United States. Calling it a matter of national security, Trump argued on Monday that the U.S. needs Greenland, a North American island, under its jurisdiction.

Denmark’s Trade Relationship with the U.S.

Although Denmark is a U.S. ally and NATO member, its economic relationship with the U.S. is relatively modest. In 2023, Denmark exported goods worth over $11 billion to the U.S., while importing more than $5 billion in products such as industrial machinery, computers, and aircraft.

Key Danish Exports: Pharmaceuticals and Hearing Aids

A significant portion of Denmark’s exports to the U.S. includes packaged medicines, insulin, vaccines, and antibiotics, thanks to its pharmaceutical giant Novo Nordisk. Known for its popular weight-loss drugs Ozempic and Wegovy, the company has been a cornerstone of Denmark’s economy, accounting for half of its private-sector job growth.

Denmark also leads the U.S. market in supplying hearing aids and other medical instruments. Trade data shows that exports of immunological products from Denmark to the U.S. have been growing rapidly.

Other Danish Exports: Food and Consumer Goods

Beyond medical supplies, Denmark exports fish fillets, pig meat, coal tar oil, baked goods, and petroleum to the U.S. Denmark is also home to the Lego Group, the world’s largest toy manufacturer. While much of Lego’s U.S. market is supplied by factories in Mexico and Virginia, the company’s global supply chains could face disruption if tariffs are imposed.

European and Greenlandic Reactions

Denmark has pushed back against Trump’s Greenland rhetoric, with Greenland’s Prime Minister Múte Egede affirming the island’s autonomy and independence aspirations. The European Commission has labeled Trump’s Greenland comments as “hypothetical” but expressed readiness to respond to any trade implications of his presidency.

Potential E.U. Retaliation Against Tariffs

Jacob Funk Kirkegaard, a senior fellow at the Peterson Institute for International Economics, criticized Trump’s threats as a negotiation tactic, warning that unilateral tariffs against Denmark could provoke a unified E.U. response. Kirkegaard emphasized that Denmark, as an E.U. member, cannot be pressured into concessions without risking broader retaliation from the bloc.

Broader Tariff Threats and Unorthodox Proposals

Trump has a history of imposing tariffs on numerous countries during his first term but has also made threats that never materialized. On Tuesday, he reiterated intentions to place tariffs on Mexico and Canada, expressed dissatisfaction with the U.S. trade deficit with Canada and the E.U., and even suggested renaming the Gulf of Mexico to “the Gulf of America.”

As Trump’s comments continue to spark debate and concern among global leaders, it remains unclear how many of these threats will translate into concrete actions.