President-elect Donald Trump's threat to "tariff Denmark at a very high level" if it refuses to give up Greenland could affect weight loss medications like Ozempic, Lego bricks and hearing aids, The New York Times reports.
Denmark is the leading supplier of hearing aids to the U.S., per The Times, and is home to Novo Nordisk, the maker of Ozempic and Wegovy. The toymaker Lego Group also is based in Denmark.
The country is the latest to join a list that Trump has vowed to tariff when he takes office on Jan. 20 if his demands aren't met. His plan includes across-the-board tariffs of 10 to 20% on imports from other nations. Trump wants 25% tariffs on imports from Mexico and Canada and an additional 10% tariff on goods from China unless the countries stem the flow of migrants and drugs into the U.S.
Economists have warned the tariffs could increase consumer prices in the U.S., and Trump hasn't disagreed.
His latest comments came during a news conference at Mar-a-Lago on Tuesday, where he discussed taking over Greenland, the world’s biggest island. Greenland has gained prominence given the increasing strategic importance of the Arctic region, with the U.S., China and Russia all vying for power over an area rich in national resources.
Trump didn’t rule out the use of military force to acquire Greenland or to retake the Panama Canal, according to a BBC account.
"No, I can't assure you on either of those two,” he said. "But I can say this, we need them for economic security.”
While the European Commission said his ideas were “hypothetical,” if implemented they would have profound implications on trade relations. Denmark would likely retaliate.
The U.S. received $11.6 billion in imports from Denmark in 2023 and $9 billion last year, according to the U.S. Census Bureau. That's a small slice of the $3 trillion the U.S. received in 2023, The Times reports.
"Roughly half of Denmark’s recent exports to the United States are packaged medicines, insulin, vaccines and antibiotics,” The Times reports, citing data from the Observatory of Economic Complexity.
Greenland and Denmark showed no signs of welcoming Trump’s annexation idea.
“Greenland belongs to the people of Greenland,” Greenland’s prime minister, Múte Egede, wrote on Facebook.
Shares