Norway is set to face some of the toughest customs terms in Europe under the US’s planned Trump-era tariff changes, according to a report.
Serbia, Bosnia and Herzegovina, Moldova, and Switzerland are the only European countries to have worse trade arrangements with the United States under tariff regimes now in place, according to new information obtained by business newspaper Dagens Næringsliv (DN).
Norwegian goods are now subject to a general 15 percent tariff, on par with those levied on European Union (EU) nations, alongside an additional 50 percent surcharge on Norwegian steel and aluminium exports, under new US tariffs which took effect on Thursday.
The tariffs on Norway come as the United States began charging higher tariffs on goods from dozens of trading partners Thursday.
READ MORE: Norway among countries impacted as Trump tariffs take effect
The Norwegian Ministry of Trade, Industry and Fisheries confirmed to DN that Norway would be hit with a general 15 percent tariff, but that this is on top of the regular rates applied to so-called most favoured nations (MFN).
These existing duties are projected at 3.4 percent in 2025, meaning an average rate of 18.4 percent for Norwegian goods, and potentially even higher for certain product groups, according to DN’s report.
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By contrast, the EU has secured an “all-inclusive” deal capping tariffs at 15 percent, with no additional charges.
Conservative Party politician and former foreign minister Ine Eriksen Søreide told DN she is concerned that the government has not informed businesses that the new tariff comes in addition to the existing MFN duty.
This could create greater uncertainty for Norwegian exporters and also leaves Norway with a significantly worse deal than the EU, Søreide said.
The new US tariffs could have major consequences for businesses in northern Norway, business group the Confederation of Norwegian Enterprise (NHO) Arctic meanwhile said on Friday.
“Many local communities in northern Norway depend on exports. We have seen strong growth in export-oriented industries here in the north, which makes us highly vulnerable to any form of trade war,” regional director Sigrid Ina Simonsen told broadcaster NRK.