For Sweden, this means a likely deterioration in trade relations with the United States – our third-largest export market – making it more costly and complex for Swedish companies to operate there. 

Sweden and the EU must act swiftly to address the situation. Countermeasures should be carefully designed to minimise the risk of a global trade war and protect domestic businesses. At the same time, the EU should strengthen ties with other partners and press ahead with free trade negotiations with key markets. 

Companies must monitor developments closely and adapt their strategies to manage changes in value chains and rising costs. Business Sweden’s advice to Swedish companies is clear: 

  1. Keep a cool head 
    Avoid overreacting. The duration of the tariffs is uncertain – and rushed, large-scale changes may be costly. 
  2. Stay informed and organised 
    Establish a clear internal function to map markets and supply chains – and assess the business impact of new tariffs and trade rules. 
  3. Think in scenarios – and have a plan B 
    Prepare for different outcomes, from short-term supply disruptions to shifts in trade conditions and ripple effects across transport, energy and exchange rates. 
  4. Secure your compliance fundamentals 
    Review customs processes, delivery terms, country-of-origin rules and product classifications to prevent unnecessary costs and risks. 
  5. Adapt your marketing strategy 
    Re-evaluate pricing and contracts – and identify new markets with fewer trade barriers to sustain sales. 
  6. Build resilient supply chains 
    Reduce reliance on individual countries or partners – and consider if a local presence could be part of your long-term solution. 
  7. Work closely with suppliers to stay agile 
    Improve flexibility by optimising inventory and cash flow – allowing you to adapt quickly as lead times and costs fluctuate. 

To support Swedish companies, Business Sweden has established a new geopolitical advisory unit. This function will track and communicate developments through regular newsletters and open forums, and support companies with analysis and scenario planning in a rapidly changing environment. 

Jan Larsson, CEO, Business Sweden 
Lena Sellgren, Chief Economist, Business Sweden 
Johan Karlberg, Acting Head of USA, Business Sweden 
Joakim Abeleen, Head of Geopolitical Consulting, Business Sweden 

Read the full article (in Swedish).