No one expected LEGO to refute Trump’s latest tariff threats: “Not what keeps me awake at night”

Earlier this year, US President Donald Trump threatened to impose steep tariffs if Denmark did not allow the US to acquire ownership of Greenland, an autonomous territory in the Arctic Circle that is part of the Kingdom of Denmark. Furthermore, the US president stated a few days ago that he intended to impose a blanket 25 percent tariff on all products manufactured in the European Union. These economic and retaliatory measures could lower the prices of some US-made products, potentially impacting companies like Lego.

Lego’s Surprising Response

Lego Group CEO Niels Christiansen told AFP: “If they would come in and we would deem that they would be more of a permanent nature, then I think we will also find ways to deal with that,” he said. ”In a market that over the last five years has not grown or only grown a couple of percent, we’ve grown 12, 13, 14 percent every year.” In this sense, the company’s revenue has continued to increase in recent years, reaching a record revenue last year, generating $10.8 billion by 2024. Furthermore, consumer sales increased by 12 percent, while the toy market decreased by 1 percent.

Given the rise in popularity and revenue for Lego and Trump’s recent statements on tariffs, Niels Christiansen spoke again on March 11, aiming to offer a message of reassurance: “2024 was an exceptional year for the LEGO Group and we are very pleased with our strong performance,” Christiansen said. “We achieved record top- and bottom-line results even as we accelerated spending on strategic priorities, including a significant increase in the purchases of sustainable raw materials. We are encouraged by these strong results as they will allow us to continue to reach more children with LEGO play experiences now and in the future,” he said.

Donald Trump’s Tariff Policy

The US President has announced that the imposition of reciprocal tariffs will be implemented worldwide, starting April 2. According to Trump, imposing additional tariffs on imports from the country’s major trading partners would enrich the United States and solve its many economic problems.

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However, this new policy by the US president has generated considerable concern among economists, due to the fall in stock markets following Trump’s assumption of office and also to several countries that will be greatly affected, such as Canada, Mexico, and China. Experts warned that ordinary Americans could be the most affected by the trade wars that are likely to erupt as a result of Trump’s tariffs, while fears of the US falling into a recession this year are growing.

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