EU Trade Commissioner Cecilia Malmström has confirmed that the EU is going to hit back if the US introduces steel tariffs. American whiskey, peanut butter and orange juice are among the products that could go up in price. The duties will be brought in if Donald Trump goes ahead with his threat.
However, Ms Malmström was careful about using the words “trade war”, commenting, “It only creates losers”. She also emphasised that there are “intensive discussions” underway and the European Commission hopes that the countermeasures will not need to be made. “We consider this to be highly unfair. It would damage trans-Atlantic relations and global trade,” says Malmström.
Chief economist of the Stockholm Chamber of Commerce, Andreas Hatzigeorgiou has warned that a trade war with the US would hit Swedish business more than most think.
In total value, the US is the fourth most important export market for Swedish companies. If one looks at the added value, however, which shows how many jobs and how much economic growth the exports create in Sweden, the US is the most important market. (DI: 22, SvD bus: 9, DN I: 23)
We are a small, but qualified team of graduates in politics, economics, English and classics dedicated to providing quality news digests in English that offer readers a first-hand look at the most important topics covered by the Swedish press. Here you will find a selection of the articles that are published in our Swedish Press Review.