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According to a survey by the Riksbank, most Swedish companies expect only a small direct impact from the new U.S. tariffs. Many firms said they could adjust supply chains or pass on small cost increases to customers. However, about 20–25% of firms in key sectors like automotive and machinery noted concern over longer-term effects on pricing and delivery schedules.
In April, the U.S. announced 25% tariffs on EU-made vehicles and 10% on various other goods, including steel and electronics. These moves led to renewed trade tensions with the EU and could complicate compliance with EU Trade Regulations 2025, which are already tightening standards on imports and exports. Economists warn that these barriers could lower global trade, reduce competition, and slow down innovation and growth.
Sweden exports around SEK 150 billion (approx. USD 14 billion) worth of goods to the U.S. annually. Key sectors like transport, machinery, and medical equipment are likely to be affected the most.
In response to these risks, the Swedish government launched a SEK 11.5 billion (approx. USD 1.1 billion) stimulus package in April 2025. The funds are being used to boost infrastructure, defense, education, and innovation. Sweden’s public debt remains low at 31% of GDP, giving it flexibility to support the economy.
Meanwhile, the Riksbank cut its interest rate by 0.25 points to 2% in June 2025, citing weak consumer demand and trade-related risks.
Because of global tariff changes and supply chain disruptions, Sweden’s growth forecast for 2025 has been cut from 2.3% to 1.8%, according to the central bank. Some industries are reporting slower production due to higher input costs or shipment delays. Risks to financial stability have also increased, especially if trade disputes grow further.
Businesses and importers working with Sweden should monitor:
U.S.–EU talks: Sweden’s finance minister has warned that 10% tariffs may be the lowest rate Europe can expect.
Global supply chains: Disruptions can lead to higher costs and longer delivery times.
Swedish currency (Krona): A stronger krona is helping reduce inflation but may damage Swedish export competitiveness.
While Sweden’s own import tariffs remain low, the effects of rising global trade barriers, especially from the U.S.,are being felt by businesses and traders. In 2025, staying alert to international trade policies, currency shifts, and supply chain changes is more important than ever for those doing business with or in Sweden.
