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The headquarters of the European Central Bank (ECB) is seen behind shipping containers of the Frankfurt container port on January 19, 2026 in Frankfurt, Germany. European leaders are scheduled to meet later this week to coordinate their response to the latest tariffs threat from U.S. Donald Trump. Trump recently announced he will impose punitive tariffs on European countries he sees as obstructing his desire to acquire Greenland.
(Photo by Thomas Lohnes/Getty Images)
Imbecile Trump Threatens Americans With $75 Billion Tax Hike So He Can Conquer Greenland
If you missed Trump’s plans to hit us with this tax hike it’s because of the consistently awful reporting we get from major media outlets.
Jan 19, 2026
Donald Trump is taking his demented dreams to a new level in his quest to take over Greenland. The man who whined over not getting a Nobel Prize and then followed Hitler propagandist Joseph Goebbels lead in accepting a prize awarded to someone else, has now decided he wants Greenland.
Trump is now proposing to whack us with a $75 billion tax increase to put pressure on Denmark and the rest of the EU to give him Greenland. If you missed Trump’s plans to hit us with this tax hike it’s because of the consistently awful reporting we get from major media outlets.
They reported on the tariffs Trump is imposing on the European countries most visible in resisting U.S. pressure to take Greenland. The problem with the reporting is that it implies the European countries pay the tariffs. They don’t, we do.
This is not a debatable point; the data are very clear. Well over 90 percent of the cost of a Trump tariff is borne by consumers or importers in the United States, not by the exporting countries. When Trump starts yelling “tariff, tariff, tariff,” he is yelling “tax, tax, tax,” and we’re the ones paying it. And $75 billion is not trivial. It’s one percent of the budget, more than twice the cost of the enhanced premiums for Obamacare policies that Trump says we can’t afford.
Let’s be clear, Trump wants Greenland because it is big. And he almost certainly thinks Greenland is far bigger than it actually is because he doesn’t understand that the Mercator projection maps, which are standard ones we all use, hugely exaggerate the size of areas near the poles.
No one likes the idea that the United States is being run by a moron.
We all know Trump says that he needs Greenland for national security. This argument is not worth a second’s consideration. Greenland and Denmark are both members of NATO. If he felt there was some need for putting additional military assets in or around Denmark, all he has to do is ask.
In fact, there were many more United States military installations in Denmark during the Cold War. We removed them after the collapse of the Soviet Union.
Trump’s team themselves made it clear that Greenland is not a national security issue. The country is not even mentioned once in Trump’s National Security Strategy plan that was crafted just two months ago.
Trump effectively admitted this in an interview with the New York Times earlier this month. He acknowledged that he could address any security issues through negotiation with Greenland, Denmark, and the rest of NATO, but said Trump said that he would feel better “psychologically” taking over Greenland.
He compared it to the difference between owning and renting. Insofar as Trump feels a psychological need to own territory that is something that is best addressed through therapy, not military action against allies.
The other argument is that Greenland is rich in rare earth minerals, which Trump’s rich buddies are anxious to exploit. This is popular among people who want to highlight both Trump’s venality and also find rationality in what seems to be an otherwise crazy quest.
While no one should ever underestimate Trump’s corruption, the story doesn’t make any sense. First, it’s not clear that there is big money to be made on Greenland’s rare earth minerals. It is a remote area with little infrastructure. It will be extremely expensive to reach these minerals and would almost certainly take many years. Given developments in technology, it’s not even clear these minerals will still be of much value at the point anyone is able to bring them to the market.
But what’s even more damning for this line of argument is that they could start mining in Greenland tomorrow, if they think it would be profitable. Greenland is very open to foreign investment. If they think there is big money to be made by mining Greenland’s minerals, they would be doing it already.
Trump’s rich friends are undoubtedly pushing for him to take Greenland, he’ll probably give them better deals than Greenland would. Most importantly he will likely get rid of environmental regulations that Greenland’s government would demand.
But the cost of environmental regulations is not likely to be the sort of thing that would warrant a military invasion. Also, it probably is not a good sell to the people of Greenland that Trump wants to take away their ability to protect their environment.
At the end of the day, we really can’t escape the basic story, Trump wants Greenland because it is big. No one likes the idea that the United States is being run by a moron. And it’s painful for those of us left of center to acknowledge that this is who we losing to, not some evil genius. However, that happens to be the reality, and we need to recognize it.
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Dean Baker
Dean Baker is the co-founder and the senior economist of the Center for Economic and Policy Research (CEPR). He is the author of several books, including "Getting Back to Full Employment: A Better bargain for Working People," "The End of Loser Liberalism: Making Markets Progressive," "The United States Since 1980," "Social Security: The Phony Crisis" (with Mark Weisbrot), and "The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer." He also has a blog, "Beat the Press," where he discusses the media's coverage of economic issues.
Donald Trump is taking his demented dreams to a new level in his quest to take over Greenland. The man who whined over not getting a Nobel Prize and then followed Hitler propagandist Joseph Goebbels lead in accepting a prize awarded to someone else, has now decided he wants Greenland.
Trump is now proposing to whack us with a $75 billion tax increase to put pressure on Denmark and the rest of the EU to give him Greenland. If you missed Trump’s plans to hit us with this tax hike it’s because of the consistently awful reporting we get from major media outlets.
They reported on the tariffs Trump is imposing on the European countries most visible in resisting U.S. pressure to take Greenland. The problem with the reporting is that it implies the European countries pay the tariffs. They don’t, we do.
This is not a debatable point; the data are very clear. Well over 90 percent of the cost of a Trump tariff is borne by consumers or importers in the United States, not by the exporting countries. When Trump starts yelling “tariff, tariff, tariff,” he is yelling “tax, tax, tax,” and we’re the ones paying it. And $75 billion is not trivial. It’s one percent of the budget, more than twice the cost of the enhanced premiums for Obamacare policies that Trump says we can’t afford.
Let’s be clear, Trump wants Greenland because it is big. And he almost certainly thinks Greenland is far bigger than it actually is because he doesn’t understand that the Mercator projection maps, which are standard ones we all use, hugely exaggerate the size of areas near the poles.
No one likes the idea that the United States is being run by a moron.
We all know Trump says that he needs Greenland for national security. This argument is not worth a second’s consideration. Greenland and Denmark are both members of NATO. If he felt there was some need for putting additional military assets in or around Denmark, all he has to do is ask.
In fact, there were many more United States military installations in Denmark during the Cold War. We removed them after the collapse of the Soviet Union.
Trump’s team themselves made it clear that Greenland is not a national security issue. The country is not even mentioned once in Trump’s National Security Strategy plan that was crafted just two months ago.
Trump effectively admitted this in an interview with the New York Times earlier this month. He acknowledged that he could address any security issues through negotiation with Greenland, Denmark, and the rest of NATO, but said Trump said that he would feel better “psychologically” taking over Greenland.
He compared it to the difference between owning and renting. Insofar as Trump feels a psychological need to own territory that is something that is best addressed through therapy, not military action against allies.
The other argument is that Greenland is rich in rare earth minerals, which Trump’s rich buddies are anxious to exploit. This is popular among people who want to highlight both Trump’s venality and also find rationality in what seems to be an otherwise crazy quest.
While no one should ever underestimate Trump’s corruption, the story doesn’t make any sense. First, it’s not clear that there is big money to be made on Greenland’s rare earth minerals. It is a remote area with little infrastructure. It will be extremely expensive to reach these minerals and would almost certainly take many years. Given developments in technology, it’s not even clear these minerals will still be of much value at the point anyone is able to bring them to the market.
But what’s even more damning for this line of argument is that they could start mining in Greenland tomorrow, if they think it would be profitable. Greenland is very open to foreign investment. If they think there is big money to be made by mining Greenland’s minerals, they would be doing it already.
Trump’s rich friends are undoubtedly pushing for him to take Greenland, he’ll probably give them better deals than Greenland would. Most importantly he will likely get rid of environmental regulations that Greenland’s government would demand.
But the cost of environmental regulations is not likely to be the sort of thing that would warrant a military invasion. Also, it probably is not a good sell to the people of Greenland that Trump wants to take away their ability to protect their environment.
At the end of the day, we really can’t escape the basic story, Trump wants Greenland because it is big. No one likes the idea that the United States is being run by a moron. And it’s painful for those of us left of center to acknowledge that this is who we losing to, not some evil genius. However, that happens to be the reality, and we need to recognize it.
Dean Baker
Dean Baker is the co-founder and the senior economist of the Center for Economic and Policy Research (CEPR). He is the author of several books, including "Getting Back to Full Employment: A Better bargain for Working People," "The End of Loser Liberalism: Making Markets Progressive," "The United States Since 1980," "Social Security: The Phony Crisis" (with Mark Weisbrot), and "The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer." He also has a blog, "Beat the Press," where he discusses the media's coverage of economic issues.
Donald Trump is taking his demented dreams to a new level in his quest to take over Greenland. The man who whined over not getting a Nobel Prize and then followed Hitler propagandist Joseph Goebbels lead in accepting a prize awarded to someone else, has now decided he wants Greenland.
Trump is now proposing to whack us with a $75 billion tax increase to put pressure on Denmark and the rest of the EU to give him Greenland. If you missed Trump’s plans to hit us with this tax hike it’s because of the consistently awful reporting we get from major media outlets.
They reported on the tariffs Trump is imposing on the European countries most visible in resisting U.S. pressure to take Greenland. The problem with the reporting is that it implies the European countries pay the tariffs. They don’t, we do.
This is not a debatable point; the data are very clear. Well over 90 percent of the cost of a Trump tariff is borne by consumers or importers in the United States, not by the exporting countries. When Trump starts yelling “tariff, tariff, tariff,” he is yelling “tax, tax, tax,” and we’re the ones paying it. And $75 billion is not trivial. It’s one percent of the budget, more than twice the cost of the enhanced premiums for Obamacare policies that Trump says we can’t afford.
Let’s be clear, Trump wants Greenland because it is big. And he almost certainly thinks Greenland is far bigger than it actually is because he doesn’t understand that the Mercator projection maps, which are standard ones we all use, hugely exaggerate the size of areas near the poles.
No one likes the idea that the United States is being run by a moron.
We all know Trump says that he needs Greenland for national security. This argument is not worth a second’s consideration. Greenland and Denmark are both members of NATO. If he felt there was some need for putting additional military assets in or around Denmark, all he has to do is ask.
In fact, there were many more United States military installations in Denmark during the Cold War. We removed them after the collapse of the Soviet Union.
Trump’s team themselves made it clear that Greenland is not a national security issue. The country is not even mentioned once in Trump’s National Security Strategy plan that was crafted just two months ago.
Trump effectively admitted this in an interview with the New York Times earlier this month. He acknowledged that he could address any security issues through negotiation with Greenland, Denmark, and the rest of NATO, but said Trump said that he would feel better “psychologically” taking over Greenland.
He compared it to the difference between owning and renting. Insofar as Trump feels a psychological need to own territory that is something that is best addressed through therapy, not military action against allies.
The other argument is that Greenland is rich in rare earth minerals, which Trump’s rich buddies are anxious to exploit. This is popular among people who want to highlight both Trump’s venality and also find rationality in what seems to be an otherwise crazy quest.
While no one should ever underestimate Trump’s corruption, the story doesn’t make any sense. First, it’s not clear that there is big money to be made on Greenland’s rare earth minerals. It is a remote area with little infrastructure. It will be extremely expensive to reach these minerals and would almost certainly take many years. Given developments in technology, it’s not even clear these minerals will still be of much value at the point anyone is able to bring them to the market.
But what’s even more damning for this line of argument is that they could start mining in Greenland tomorrow, if they think it would be profitable. Greenland is very open to foreign investment. If they think there is big money to be made by mining Greenland’s minerals, they would be doing it already.
Trump’s rich friends are undoubtedly pushing for him to take Greenland, he’ll probably give them better deals than Greenland would. Most importantly he will likely get rid of environmental regulations that Greenland’s government would demand.
But the cost of environmental regulations is not likely to be the sort of thing that would warrant a military invasion. Also, it probably is not a good sell to the people of Greenland that Trump wants to take away their ability to protect their environment.
At the end of the day, we really can’t escape the basic story, Trump wants Greenland because it is big. No one likes the idea that the United States is being run by a moron. And it’s painful for those of us left of center to acknowledge that this is who we losing to, not some evil genius. However, that happens to be the reality, and we need to recognize it.
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