Economy

Tariff crisis  Trump's tariff policy
EU warns US: 10% tariffs will get a response

The EU will not accept the US imposing broad tariffs on European exports, reports Bloomberg. The EU is now considering retaliatory tariffs on US goods – including Boeing aircraft – if negotiations with the Trump administration do not lead to a fair deal.

– We will have to respond and restore the balance in some key sectors if the US insists on an asymmetric deal, EU Industry Commissioner Stéphane Séjourné told Bloomberg News.

This is true even if “the outcome of the negotiations is that a 10% tariff remains”, he added.

EU summit: US tariffs may be here to stay

Tariff revenue and the ambition to move production home are important issues for the US, Matthias Jørgensen, a senior EU official involved in the negotiations, told the FT.

– We are negotiating as vigorously as we can, he says and continues:

– But we also have to consider a very realistic scenario where some, or all, US tariffs will remain in place.

"Several agreements in the pipeline – but Trump's budget comes first"

The White House will announce several trade agreements, but first Donald Trump's "Big beautiful bill" must be voted on. This is what White House economic adviser Kevin Hassett tells Fox Business.

– I think we will see a series of trade agreements starting around the fourth of July, he says, adding that negotiations are progressing well with several trading partners.

Politico writes that there are more obstacles to the budget proposal than Hassett makes it seem and that a vote on it may take a while. One such is “Trump’s Revenge Tax”, also known as Section 899.

Middle East Crisis  Economic Impact
Oil continues to fall – down nearly $10 in a day

Oil prices continue to fall after Iran and Israel confirmed this morning that the parties have initiated a ceasefire.

Shortly before 9 a.m., fuel oil is trading down more than 4 percent to $67.50, while WTI oil is down 4.2 percent.

Oil has thus fallen by nearly $10 since yesterday.

Trump fuels oil price crash: China may buy from Iran

After oil prices had their worst trading day in three years on Monday, the price continued to fall between 2 and 3 percent at 3:40 p.m. on Tuesday. Donald Trump’s Truth Social post that China may continue to buy oil from Iran is putting extra pressure on the price, several media outlets report.

– The geopolitical risk premium that has built up since Israel's first attack on Iran almost two weeks ago has now completely disappeared, says Tamas Varga, analyst at brokerage firm PVM.

Swedish jobs
Swedish Chamber of Commerce: Let's arm Sweden together

Swedish Chamber of Commerce believes that Swedish competitiveness needs to be strengthened through reforms in four areas. This is what chairman Jacob Wallenberg and CEO Jan-Olof Jacke write in a post on DN Debatt.

One of the problems is that the lack of personnel with the right skills prevents companies from growing. They want to solve this by, among other things, strengthening the influence of the business community over vocational schools. Another problem is that extensive investments need to be made, and here the solution is public-private cooperation.

"Sweden needs stronger companies and higher economic growth. The potential is there. Let's now make it happen together," they write.