Trump Proposes New Tariff Measures Amid Renewed Push for Greenland Acquisition

In a surprise policy statement delivered at a political rally in Florida, Donald Trump reiterated his long-standing interest in acquiring Greenland, framing the move as critical to U.S. national security and resource independence. He linked the acquisition effort to a new trade initiative, proposing tariffs on key export sectors from Nordic nations, particularly those involved in mining and fisheries. The 25% tariff would apply to all mineral exports from Denmark, including rare earth elements and nickel, while a 15% duty would be imposed on consumer goods from Iceland and the Faroe Islands, effective April 1, 2026. The proposed tariffs represent a significant escalation in trade policy, echoing Trump’s 2018–2020 trade actions that included levies on steel and aluminum imports. Analysts note that the new measures could disrupt supply chains for European raw materials and pressure Nordic governments to reconsider their stance on Greenland's sovereignty. The U.S. currently imports approximately $1.2 billion annually in minerals from Denmark and its territories, according to public trade data. Market reactions were immediate. The Danish krone weakened by 3.2% against the U.S. dollar in early trading, while Nordic stock indices showed mixed performance, with mining firms like Nussir ASA and Orkla ASA experiencing a 5.8% and 4.3% drop, respectively. European Union officials have expressed concern, warning that the tariffs could trigger retaliatory actions under WTO rules and strain transatlantic relations. The move has reignited debate over Greenland’s future. The Greenlandic self-government, which holds autonomy over natural resources, has consistently rejected U.S. overtures, reaffirming its desire to maintain political independence. Meanwhile, U.S. Defense Department officials have privately acknowledged that strategic access to Arctic resources remains a top priority, though no formal acquisition proposal has been submitted.