The US import tariff of 20 percent on goods from the EU will have major consequences for Danish companies. Calculations from the business organization Danish Industry (DI) show that the US tariff will reduce Denmark's gross domestic product (GDP) by 38 billion DKK. It will also cost 13,000 jobs.
In addition, there is the effect that the US tariff will have on other countries' trade with Danish companies. DI Director Lars Sandahl calls on Europe to respond resolutely and appropriately again.
- It is a sad day in general, and worrying in particular that Trump is throwing gravel into the world's growth and prosperity machine with open eyes, says Sandahl in a press release.
- The American president should know, if anyone, that everyone becomes more prosperous by trading together, and that everyone loses in a trade war, it continues.
DI states that in 2024 Denmark sold goods worth 248 billion DKK to the USA. This corresponds to more than a fifth of Denmark's total exports of goods.
Director of the business organization Dansk Erhverv, Brian Mikkelsen, also laments the American import tariffs.
- A trade war benefits no one, and increased tariffs will hit companies and consumers in both the US and the EU.
- High tariffs will over time contribute to inflation, reduce investment appetite, reduce purchasing power and lower productivity. Increased tariffs are simply bad news, says Brian Mikkelsen in a press release.
Although the director is annoyed by the American tariffs, Brian Mikkelsen finds some comfort in the fact that several Danish companies have established production in the United States in recent years.
- Companies with Danish subsidiaries in the United States will not be affected as long as they do not import raw materials or components for their production in the United States from countries affected by the new tariffs.
- Conversely, many of the small and medium-sized Danish exporters are expected to be affected, says Brian Mikkelsen.
jel /ritzau/
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