Parts of the Danish business community have been summoned to a briefing at the Ministry of Business and Industry on tariffs because the US will impose additional tariffs on goods from a large number of countries. The Ministry of Business and Industry confirms this to Ritzau. The meeting will take place on Friday afternoon and will address the massive uncertainty that has arisen after the US's announcement late on Wednesday evening Danish time.
The trade union movement and business organizations such as the Confederation of Danish Industry and the Danish Employers' Association are expected to be present at the meeting. There is also expected to be a short press conference with the business organizations and the trade union movement late on Friday afternoon.
Minister of Business and Industry Morten Bødskov (S) has previously briefed the parties when it was expected that the US President, Donald Trump, would increase tariffs. On Wednesday evening Danish time, he officially presented the plans, which will be implemented on April 9. Due to fears about the new tariff plans, several major stock indexes experienced the biggest single-day declines since 2020 during the corona crisis.
The fear is that it will trigger a global trade war and drag the US economy into a recession, which is a period of economic decline. Economists expect that this will lead to more expensive goods all over the world, because the US is a major trading partner for many.
Among others, the European Commission has said that it will introduce tariffs on goods from the US, but this has not yet been finally announced. With higher tariffs, Donald Trump wants to force foreign companies to produce their goods in the US and create American jobs.
The challenge, however, is that Americans also risk being hit by the new tariffs. This is because many goods are not produced in the US at all. Therefore, a lot of goods will still have to be imported, which will therefore be more expensive than they have been so far.
Danish Industry will be present at the meeting and is urging the EU's 450 million inhabitants to stand together and force Trump to the negotiating table.
- I would like to urge that the EU and Denmark continue to work to avoid a trade war or at least make it as short-lived as possible, but also be ready to respond proportionately, says DI's head of geopolitics Peter Thagesen in a written comment.
jel /ritzau/
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