As Donald Trump assumes the US presidency, his proposed tariffs have raised concerns in global trade. He has promised sweeping tariffs, including 60% on Chinese goods and 10-20% universally. Recent comments suggest he may declare a national economic emergency to bypass Congress and impose these measures, though experts anticipate legal and political challenges.
Photo: Dreamstime.
Henrik Isakson, policy manager for international trade at the Confederation of Swedish Enterprise, warns of potential repercussions for Sweden, the US's third-largest goods export market. He states, 'Trump likes tariffs, and he will impose them,' adding that any actions could disrupt global trade and stock markets.
Two Swedish wood and furniture companies, Zilenzio and Blå Station, are closely monitoring developments. Zilenzio, which exports 65% of its products, relies heavily on the US market. CEO Hans Bergström noted that their "hard work is starting to pay off," with the US forecasted as their largest market in 2025.
Blå Station, which produces eco-friendly furniture, has prepared by relocating production of its top-selling sofa system to Mexico. CEO Johan Lindau remarked, 'High tariffs against one region won't affect us significantly, as we can switch between European and Mexican production.'
Isakson urges Swedish firms to conduct scenario planning, particularly those with production in China or outside Europe. 'Trump's decisions can be swift,' he cautions, advising companies to assess how increased tariffs might impact their sales.
Despite uncertainties, Swedish exporters remain cautiously optimistic, leveraging strategic planning and adaptive production to mitigate potential trade disruptions.
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