Less than a week is left before United States (US) President-elect Donald Trump is officially sworn in. Post his handsome victory in the November 5, 2024, presidential election against Kamala Harris, Trump has made many proposals.

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The proposals range from a demand to make Canada the 51st state of the US, regain control of the Panama Canal, and an offer to buy Greenland.

This is not the first time that Trump has offered to buy Greenland. He made the demand in 2019 as well, while serving as president.

Also read | Trump’s GOP allies unveil 'Make Greenland Great Again' bill to support his push to buy Greenland

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Greenland, an autonomous territory of Denmark, has a history of both geopolitics and geoeconomics. Greenland lies between the Arctic and Atlantic oceans, east of the Canadian Arctic Archipelago.

US attempts on buying Greenland—not the first time

This is not the first time that Trump has made an offer to buy Greenland, and he is also not the first American president to do so.

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Since the 19th century, the US has considered and, in fact, made several attempts to purchase Greenland.

Internal discussions within the US authorities about acquiring the island notably occurred in 1867, 1910, 1946, 1955, and 2019.

In Washington's eyes, Greenland is vital for national security. Post-World War II, the Truman administration was reported to have offered Denmark $100 million for the island.

Also read | Denmark says Greenland can be 'independent' but not part of United States

A recent report by The New York Times (NYT) said that if Donald Trump succeeded in his plan to buy the island, the price of the purchase could be between $12.5 billion and $77 billion. 

The geopolitics of the Arctic: Who is doing what?

Greenland is home to a large US space facility and is strategically important for Washington, lying on the shortest route from North America to Europe.

The island is geographically situated between the Northern Sea Route and the Northwest Passage, two Arctic shipping routes whose importance is growing as sea ice shrinks. 

A report by The Conversation on Tuesday (January 14) said that by around 2050, a Transpolar Sea Route is likely to open through the central Arctic Ocean, passing Greenland’s eastern shores.

Apart from Greenland, the US also has interests in the Arctic region. 

Also read | Why is Donald Trump interested in acquiring ownership of Greenland?

According to a report by the White House in 2022, Washington's vision for the Arctic "protects and advances US interests in the region, including providing homeland security and defence, expanding economic opportunities, and upholding the international law."

But the US isn't the only foreign power interested in the Arctic. China and Russia are on the list too.

Russia has economic and military interests in the region. Meanwhile, China's Arctic policy outlines Beijing's approach to foreign relations with Arctic nations.

The policy also includes Beijing's plans to develop infrastructure, extend military capabilities, conduct research, and excavate resources within the Arctic Circle.

A look at the territorial acquisitions of the US

The US has made several territorial acquisitions since 1978.

These included the annexation of the Vermont Republic, the Louisiana Purchase from France, the purchase of Florida (East and West) from Spain, and the Mexica Cession from Mexico.

(With inputs from agencies)