Swedish Leaders React to EU-US Tariff Agreement: Concerns and Praise
Sweden voices mixed reactions to the new EU-US tariff agreement, with leaders criticizing high tariffs while recognizing the need for predictability in trade.
- • Sweden criticizes the high tariffs established in the new EU-US agreement.
- • Prime Minister Ulf Kristersson calls the tariffs the highest in 70 years, indicating they're fundamentally harmful.
- • Finance Minister Elisabeth Svantesson warns of potential economic downturns due to these tariffs.
- • EU negotiator Maros Sefcovic defends the agreement as the best possible outcome in a tough situation.
Key details
Sweden has responded to the recent EU-US tariff agreement with a mix of criticism and cautious optimism. Prime Minister Ulf Kristersson acknowledged that the agreement marks a significant step forward, yet expressed concern over the high tariffs, now deemed the highest in 70 years. He stated, "While it's good we have an agreement, such high tariffs are fundamentally bad for our economy. Lower tariffs would have been preferable." He noted the realization that the tariffs could be lower than initially projected offers some predictability for Swedish businesses.
Finance Minister Elisabeth Svantesson voiced her discontent with the agreement's economic implications, suggesting that these elevated tariffs may hinder demand and overall growth, potentially leading to higher unemployment rates. She remarked, "Measuring the tariffs, they will decrease demand, and that worries me for the future of our economy." Nevertheless, Svantesson acknowledged the necessity of the agreement, pointing out that uncertainty from trade issues had previously created significant stress within Swedish markets and households.
EU's chief negotiator Maros Sefcovic defended the deal, asserting it delivered the best possible outcome under the current difficult circumstances. The sentiments from Swedish leadership reflect wider EU concerns about maintaining stable trade relationships amidst challenging global economic conditions.