torsdag 26 mars 2026
Economy
The tariff crisis •Trump's tariff policy
EU gives green light to conditional tariff agreement with the US
The
European Parliament has voted to move forward with legislation for the
EU's part of the trade agreement with the US, with certain conditions.
This is reported by several media outlets.
The Parliament voted 417 in favor, 154 against and 71 abstentions for the proposal, but with several additions.
The
proposal includes reduced tariffs on certain US imports, in line with
the agreement that was concluded last summer and that Brussels promised
to uphold.
However, the agreement is not yet complete. Final
negotiations with the member states are now pending before approval can
be finalized later this spring.
Food prices
Food VAT to be reduced soon – several chains have jumped the gun
On Wednesday next week, the temporarily reduced food VAT will come into effect. But several large food chains will or have already reduced prices in advance, writes TT.
Coop and Willys will reduce their prices from Monday, March 30, while Lidl reduced prices for its members as early as March 16. Hemköp will reduce its regular prices on April 1.
ICA announces that it is up to each store whether they want to reduce prices in advance or not.
Several of the food chains welcome the reduced food VAT from 12 to 6 percent and hope that it will remain even after the turn of the year 2027/2028.
– There are many factors that affect prices, including things that we ourselves have no control over. We will continue to do what we can, but we also think that a lasting and reduced VAT would help with that, says Jan Prokopec, sales and marketing manager at Ica.
The war effect: Significant loss for Dubai's luxury stores
The Iran war has shaken the global luxury industry, writes the Financial Times. The United Arab Emirates has been a reliable growth country when sales have fallen in China and Europe, but Iranian revenge attacks on US allies have changed that.
Several luxury shopping malls in tourist-dense Dubai are recording a loss of visitors of around 50 percent compared to the previous month.
According to Morgan Stanley, the region accounts for around 5 percent of global sales for a number of luxury groups, including Richemont, which owns the jewelry company Cartier.
Labubu Hype
Labubu Owner Falls 22 Percent on Growth Concerns
It was a sour day on the stock market when Labubu owner Pop Mart fell 22 percent. The reason for the fall is that concerns about growth overshadowed the successful results in the fourth quarter report, writes CNBC.
The Beijing-based toy manufacturer, with Labubu as the big draw, reported a 185 percent increase in sales compared to the previous year. What worries investors is the "significant slowdown in the fourth quarter," says Jeff Zhang, equity analyst at Morningstar, to CNBC.
Middle East Crisis Oil Market
Report: White House expects oil price to reach $200
Trump administration officials are analyzing what a runaway oil price of up to $200 per barrel would mean for the economy. This is reported by Bloomberg sources.
The analysis is part of ongoing assessments in troubled times and does not constitute a forecast, the sources emphasize. The purpose is to ensure preparedness for various outcomes, including a protracted conflict in the Persian Gulf.
Treasury Secretary Scott Bessent is said to have expressed concern even before the war that the conflict could drive up oil prices and dampen growth.
The White House rejects the information and says that it has not specifically analyzed an oil price of $200.
The news agency notes that an oil price of $200 would be a “huge shock” to the world economy. Adjusted for inflation, oil prices have only reached such levels once before – during the 2008 financial crisis.
Oil rises after various signals from Tehran
Oil prices rose on Thursday after Donald Trump warned Iran to “take the negotiations seriously soon”, while once again criticizing NATO for not participating in the conflict.
The president claimed that Iran is actively talking to the US about a deal, something Iranian representatives deny.
“They are ‘begging’ for a deal […] yet they say publicly that they are only ‘considering our proposal’. Wrong!!!”, he writes in capital letters.
Shortly after lunch, fuel oil rises 4 percent to $107 per barrel, while WTI oil rises 3 percent and is trading just above $92.
Iranian Foreign Minister Abbas Araqchi said on Wednesday that Tehran is considering a US proposal for a ceasefire in the Persian Gulf, Reuters reports. At the same time, the country denies that any talks are underway and that there are no intentions of talks to de-escalate the conflict.
– Although the US is clearly looking for a way out, neither Iran nor Israel seem interested in a quick solution, says Sparta Commodities senior analyst Philip Jones-Lux in a comment.
Middle East crisis Reactions
Sources: Trump's talk about Hormuz astounds allies
Donald Trump's various statements about the Strait of Hormuz are so confusing that they have led to a stalemate with European allies, four European sources told Politico.
Trump has both raged at allies for refusing to send ships to the strait, and said that the United States does not need their help anyway. But the sources say that the United States has not sent any formal request for equipment.
- The United States has asked us to take care of and defend our own countries, take care of supporting Ukraine, and now the Middle East and global supply chains, says one source, who calls Trump's statements "absurdly incoherent".
NATO Secretary General Mark Rutte caused irritation in several European countries when he praised the United States' warfare in Iran this weekend, and said that the allies support Trump's actions.
– Allies dislike being called into a war we didn’t start, without any idea what the US will do, says a NATO diplomat.
Sources: Gulf countries want to see an end to the war – but not yet
US allies in the Persian Gulf want the US to end the war, but do not want to see a hasty solution that destabilises the region, reports the Washington Post. Saudi Arabia and the United Arab Emirates are lobbying for the US to end the war. At the same time, they are ready to support an escalation as long as it leads to pushing for concessions at the negotiating table and a more “humble Iran”, sources tell the newspaper.
– They are not asking Trump to immediately escalate the war, but to create the conditions for a decent interlocutor on the other side of the Gulf when the war is over, says a European official.
The fear is that a quick ceasefire now could prompt Tehran to launch attacks on neighboring countries and continue to keep the Strait of Hormuz closed.
Qatar, Kuwait, and Bahrain reportedly agree with this stance, while Oman continues to oppose the war.
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