Trumps plan to impose tariffs in bid to acquire Greenland could raise prices of Ozempic, Legos

President-elect Donald Trump’s threat to slap Denmark with tariffs to force its hand in giving up Greenland could lead to higher prices for popular weight-loss drugs Ozempic and Wegovy as well as Lego toys, according to a report.On Monday, Trump said he would “tariff Denmark at a very high level” if it did not allow Greenland – the ice-covered autonomous territory owned by the Kingdom of Denmark – to join the United States. “They should give it [Greenland] up, because we need it for national security,” Trump said.The tiny Scandinavian nation — Denmark’s entire country’s population is smaller than that of New York City — is not a major trading partner, sending just about $11 billion in goods to the US in 2023 out of $3 trillion worth of imports.But the goods Denmark sends to the US – including Legos, Ozempic and Wegovy, hearing aids and other medicines – are desirable and could get a whole lot more expensive if Trump follows through on his tariff promise, according to The New York Times.About half of Denmark’s recent exports to the US are medicines, insulin, vaccines and antibiotics, according to the Observatory of Economic Complexity, a trade data platform.The country is home to Novo Nordisk – the firm behind Ozempic and Wegovy.Novo Nordisk has been ramping up its US production to meet the soaring demand for the drugs – but hefty tariffs could spike prices.“We will follow the situation closely; however, we will not comment on hypotheticals and speculations,” a Novo Nordisk spokesperson told The Post.

Denmark is also the leading supplier of hearing aids to the United States, as well as a major supplier of medical instruments, fish fillets, pig meat, coal tar oil, petroleum and baked goods, according to the OEC.The country is also home to the Lego Group – the world’s largest toymaker.It’s a privately-held company, but was valued at around $13 billion in 2023, according to Statista. It is unclear how much Lego exports from ...