Trump's Greenland ambition: stocks that may face tariff shock in 2026

EU stocks are in focus on Jan. 16 after President Donald Trump signalled plans of slapping tariffs on nations resisting Washington’s push to acquire Greenland.

“We need Greenland for national security. So I may do that,” – he told reporters at the White House.

Trump’s latest remarks underscore his willingness to wield tariffs — a tool he’s frequently used in trade disputes — as leverage in an unusual geopolitical campaign.

While the administration didn’t elaborate any further, the President’s comment suggests countries opposing the US bid for Greenland could face economic consequences as 2026 unfolds.

Why is Trump so desperate to acquire Greenland

Investors should note that President Donald Trump’s fixation on Greenland is not at all new.

The world’s largest island, an autonomous territory of Denmark, sits strategically in the Arctic – a region viewed as a frontier for military positioning and resource extraction.  

Greenland’s location offers a vantage point to monitor North Atlantic shipping lanes and potential Russian activity in the Arctic Circle.

But the island’s untapped reserves of rare earth minerals and hydrocarbons are perhaps what’s most attractive for US economic interest.

Trump has repeatedly framed the acquisition as a matter of national defence, noting that Greenland could serve as a bulwark against rival powers.

His latest comments reinforce that urgency.

Which countries are most prone to new tariffs

Denmark – of course – has been the most vocal against Trump’s ambitions, describing the idea as “absurd”, insisting the Greenland territory is not for sale.

And other members of the European Union have quietly backed its stance, concerned about setting a precedent for territorial bargaining.

Across the Atlantic, Canada has also expressed unease, given its own Arctic sovereignty concerns.

If the Trump administration were indeed to proceed with announcing new tariffs in its push for the Greenland territory, then these countries would be the most at risk.  

By linking trade penalties to geopolitical resistance, Trump is effectively warning EU capitals that opposition to US ambitions could carry economic costs.

The rhetoric raises the possibility of a fresh transatlantic trade clash.

Stocks that may be most at risk from new tariffs

If Trump follows through, companies from Denmark and the broader EU could feel the sting.

Danish shipping giant Maersk, already sensitive to global trade tensions, would be vulnerable to new US tariffs – and pharma giant Novo Nordisk, which relies heavily on the US, could also face headwinds.

In Germany, automakers such as Volkswagen and BMW might be caught in the crossfire if the EU collectively resists Washington’s Greenland push.

In Canada, names like Suncor – an energy company with material exposure to the US markets – could be similarly impacted.

Investors will likely reassess holdings in these names, anticipating retaliatory measures or reduced access to US consumers.

The prospect of tariffs tied to geopolitics adds another layer of uncertainty to global markets.