On Thursday afternoon Mexican President Enrique Peña Nieto announced that he would not attend a meeting with US President Donald Trump. His move was a response to a planned border wall between the two countries, and the question of who would pay for it.
For every day that passes Professor Henrik Horn of the Research Institute of Industrial Economics (IFN) is more and more convinced that Donald Trump intends to realise his trade threats, and that there is a real risk of a trade war, reports Dagens Industri.
Trade Minister Ann Linde (S) is also concerned, saying trade patterns will “deteriorate” when the international rules for global trade are called into question.
However, the minister is keen that Sweden should have good relations with the US, pointing out that Swedish companies employ 330,000 people and is one of the largest investors per capita in the US.
Meanwhile, Anna Stellinger, director general of the National Board of Trade Sweden (Kommerskollegium), fears Donald Trump’s trade action could have direct and indirect impact on Swedish exports and companies.
“The US is our second most important export country in terms of services, and the third most important for exports of goods,” she says, emphasising that 140,000 jobs in Sweden are dependent on US exports.