STORY: :: Sweden’s finance minister says she is more
worried by low growth than new tariffs
:: New York
:: December 10, 2024
:: Elisabeth Svantesson, Swedish Finance Minister
“My biggest fear is not a tariff. Of course, tariffs are really bad for not only for Sweden or Europe, but also for America. But the problem we have right now in EU is low productivity. The growth is too bad and we need to step up when it comes to investments, more private investment. So that’s my main concern. So, I mean, the destiny of Europe is not in the in the new administration’s hand, it’s in our own hands. And we we need to step up. With that said, of course, I mean, if if we should see kind of a war with tariffs, it’s bad for everyone.”
“I have come to understand that Mr. Trump is quite transactional. I like to do business. So you never know. Last time I think many Europeans have backed off and really I mean, he will be president for a couple of years and maybe more.”
Asked if she thought that U.S. President Donald Trump’s threatened tariffs were “posturing,” Svantesson said,
“I don’t know. I don’t really know. But I guess it’s it’s a bargaining, too. But I’m pretty sure that he will do something. But I mean, 60% against China probably that’s probably a bargaining. I don’t know. But if I guess I mean, some of you might have better guesses, but I think we will see a change in tariffs. Absolutely. And that’s bad, of course. Yeah. But on the other side, as I said, Europe’s economic problem, it’s worse than tariffs.”
Svantesson was speaking on a panel at the Reuters NEXT conference in New York.
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Publish date : 2024-12-10 07:45:00
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