Soon it will be time for the presidential election in the United States and, as you know, it is between the presidential candidates Kamela Harris60, from the Democrats and Donald Trump78, from the Republicans.
Politics in the USA may seem far away, but there is a lot that can affect Sweden and its inhabitants directly.
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Therefore, the US election can be decisive for Swedish jobs
An important part of Republican candidate Trump’s entire election campaign has been the issue of tariffs, that is, the fee you pay when you import or export goods to or from a country.
If Trump gets his way, these could be raised between 10 and 20 percent for European countries – something that could negatively affect the Swedish economy.
Donald Trump 2024. Photo: Julia Demaree Nikhinson/AP/TT.
After Germany and Norway, the USA is the country to which Sweden exports the most goods, and these often end up in the category of industrial goods. Trump has largely been elected on increased tariffs, which would mean that American companies have to pay dearly when they import goods from other countries, such as Sweden.
“Today, the average duty on transatlantic trade is only 3 percent,” writes Svenska Dagbladet, which was the first to report on this.
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“In the long run, many Swedes may lose their jobs”
Lena Sellgrenchief economist at Business Sweden, believes that many Swedes could lose their jobs if Trump wins the election and raises tariffs.
– If Swedish companies can no longer sell the same amount of goods to the US, it is of course negative for the Swedish economy. In the long run, many Swedes may lose their jobs, she tells the newspaper.
Industrial worker. Photo: Marcus Ericsson/TT.
Trump’s opponent, Democrat Kamela Harris, has not given any clear indication of what she wants to do about the tariffs. Her former boss president Joe Biden however, chose to keep almost all the tariffs Trump imposed when he was president.
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Will Trump actually raise tariffs if he becomes president in 2024?
Whether Trump will actually prioritize the issue of tariffs is unclear. Some Republican politicians do not agree with Trump in his trade policy.
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Glenn Nielseneconomist at Swedbank, writes in an analysis that the president can only raise tariffs on his own in special cases.
“The president can, for example, without congressional approval, raise tariffs in time of war, during a national emergency, or if imports pose a threat to national security,” Nielsen writes in the analysis, according to SvD.