AmCham Sweden’s Statement in Response to US Administration’s Reciprocal Tariffs

AmCham Sweden’s Statement on Reciprocal Tariffs

Yesterday, the U.S. administration announced the imposition of a 20% tariff on most imports from the EU. In response, the EU indicated it is preparing countermeasures if no negotiated solution is found. 

The American Chamber of Commerce in Sweden (AmCham Sweden) continues to closely monitor the situation and is concerned that these measures will create damaging ripple effects across all sectors of the economy.  Tariffs are harmful taxes on imports that increase costs for both consumers and businesses. 

The associated financial impact and supply chain disruptions for a broad range of industries will be widespread and are simply too difficult to assess. The rapid imposition of the tariffs adds to the overall uncertainty, leaving close to no time for companies and officials to adjust.

The U.S. and the EU share a mutually beneficial economic relationship worth $9.5 trillion. Rather than imposing new tariffs, they should reach a deal that preserves the benefits of transatlantic trade and investment. Constructive engagement with the business community will be key to identifying practical solutions that serve both sides.