TAG Industrial Watch: January 24, 2026

On the surface, it doesn’t seem like there’s much of a connection between the global tensions over Venezuela and Greenland when it comes to America’s industrial real estate market. But as the saying goes, there’s “more than meets the eye,” much more. If you’re a regular reader of the Industrial Watch, you know how dependent America’s industrial market (and the overall economy) is on the nation’s $3 trillion in annual imports, made possible by low and stable interest rates and the strength of the U.S. dollar. Regardless of your thoughts on the president’s recent actions and threats, we must acknowledge the consequential global backlash. Just in the past week, a major Danish pension fund announced plans to sell $100 million in U.S. Treasuries. Given that Greenland is an official territory of Denmark, the timing of this announcement is not a coincidence. Canada also made headlines, announcing a trade deal with China to significantly lower their 100% tariff rate on Chinese EVs, a duty that was specifically requested by the Trump administration.

Both news stories serve as recent examples of the global “dedollarization” movement that has been picking up steam in recent years. This week, we experienced just a taste of what this means: higher interest rates and a lower dollar against foreign currencies. Since U.S. imports (and thus the industrial properties that utilize and warehouse these goods) depend on relatively low rates and a strong dollar, industrial investors should take notice of the changing global perception of America. As we demonstrated last week, it’s a good time to turn your attention toward the export-related markets and properties that will actually benefit from rising rates and a falling dollar.