Brace for impact on Trump’s “Liberation Day”

White House hints at major tariffs amid uncertainty

While details remain unclear, the White House has hinted at sweeping reciprocal tariffs, potentially impacting industries ranging from autos to pharmaceuticals. Announced in a Rose Garden press conference, the plan is expected to generate billions in tariff revenue – but it does not address concerns around inflation, economic slowdowns, and global trade tensions.

Current tariff overview:

Liberation Day: New tariffs on autos and auto parts expected

Swedish automakers and suppliers face new hurdles as President Trump’s 25% tariff on imported cars, light trucks, and auto parts takes effect on 3 April. First proposed on 18 February and confirmed on 26 March, the tariff applies to all foreign-made vehicles. The White House later clarified that auto parts used in U.S.-assembled vehicles will also be taxed.

While automakers under the USMCA (United States-Mexico-Canada Agreement) will receive temporary exemptions, these OEMs and suppliers may face rising costs and growing pressure to shift toward more regionalised supply chains. With nearly half of U.S. car sales dependent on imports – and over half of U.S.-built cars containing foreign components – industry experts warn consumer prices could rise by at least USD 6,000.

 2 April to bring more clarity on reciprocal tariffs

Swedish industries should brace for broader U.S. tariffs as the Trump administration signals an aggressive trade agenda. Dubbed “Liberation Day,” 2 April will mark the announcement of reciprocal tariffs targeting specific trade partners, with possible exemptions for select nations. Beyond the automotive sector, Swedish pharmaceutical, semiconductor, and raw material suppliers could also be affected, though full details are still pending. Tariffs on lumber and copper remain under review, while a previously announced 200% duty on European wine and champagne is currently in limbo.

 European Commission President Ursula von der Leyen has reaffirmed the EU’s commitment to negotiation but emphasised the need to safeguard European economic interests. Swedish companies must now navigate an increasingly complex and uncertain U.S. trade landscape. These reciprocal tariffs are expected to be broad at first, narrowing over time – but with little information available ahead of the 2 April announcement, implementation details remain unknown.

What to watch this week

Reciprocal tariffs are expected to take effect on 2 April. While earlier reports suggested Trump would target a “dirty 15” group of countries with significant trade imbalances – including China, Canada, and the EU – he now claims all countries will be affected.

The tariffs are likely to be applied on a country-by-country basis rather than by product category. However, with agency reports due to the president on 1 April, the final implementation details remain uncertain.

Get in touch

Business Sweden has extensive experience in tariff scenario analyses, localisation evaluations, and supplier assessments. If you need support in assessing your supply chain or navigating the impact of these tariffs on your U.S. operations, please contact Johan Karlberg.

If steel & aluminium tariffs are impacting your business, especially with a local manufacturing footprint in the U.S., please share the details. This information helps Business Sweden and Team Sweden advocate for Swedish businesses in the U.S.

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