Financial markets were jolted on Tuesday as officials in Washington confirmed that President Donald Trump is weighing a sweeping tariff proposal aimed at all imports arriving from Greenland. The initiative represents a new escalation in the White House’s revived interest in negotiating a U.S. purchase of the Arctic territory, a geopolitical idea that once generated both skepticism and diplomatic friction.
According to senior officials briefed on the plan, the administration is preparing to request congressional authority that would allow the president to levy tariffs of at least 10 percent across Greenlandic products entering the United States. Supporters inside the government are presenting the measure as vital to national security, while critics argue it is designed to pressure Copenhagen into reengaging in talks over Greenland’s future status.
Early market reaction was swift and volatile. Gold prices surged to fresh record highs as investors rotated into safer assets, while U.S. equity futures swung between gains and losses during overnight trading. Currency markets also witnessed turbulence, with analysts noting increased selling of the U.S. dollar and heightened demand for alternative assets. Traders described the sudden shift as a developing “Sell America” trend, reflecting heightened anxiety over potential trade disruption.
Analysts estimate that more than $100 billion worth of U.S.-bound imports linked to Greenland could be exposed to the proposed tariffs, highlighting the scale of commercial ties that risk being rattled. The administration has not set a firm timeline for submitting its congressional request, but the internal preparations have already stirred diplomatic concern in Denmark and unease among American companies dependent on Greenlandic supply chains.
If advanced, the proposal would represent one of the most aggressive trade maneuvers undertaken by the United States in recent years, injecting new tension into transatlantic relations and reigniting debate around strategic influence in the Arctic.
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