The expert on the customs declaration: ‘A nightmare’
Stockholm – Just hours before the deadline came the announcement that Donald Trump’s new tariffs are postponed until next week.
“This is absolutely not good. It is a tragic step towards increased unpredictability,” says Swedish senior economist Robert Bergqvist, working at the bank SEB.
Trump’s new order includes general tariffs on goods for the EU and 68 other countries.
Robert Bergqvist describes the announcement as a temporary jumble of tariffs, pauses, and exceptions that are difficult to keep up with. At the same time, it is a coercive situation against the outside world – and it will cost.
“It is a nightmare for internationally active companies and everyone will have to pay when global trade is challenged,” he says.
“Many believe that this is a first step away from total uncertainty. It may become a bit clearer, but I still think that uncertainty will persist,” says Robert Bergqvist.
“Everyone is a loser. This is a permanent damage to the world economy.”
The U.S. tariffs against the EU are now set to take effect on August 7. But much is still unknown about what the tariff agreement actually entails, and according to the EU Commission, the EU and the U.S. will also continue with negotiations.
(August 1)
