Kristersson Expresses Concern Over Stock Market Drop After Tariffs

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Kristersson Expresses Concern Over Stock Market Drop After Tariffs
Photo: Johan Nilsson/TT

We are worried. This says Prime Minister Ulf Kristersson (M) after the stock market crash that followed President Donald Trump's announced trade tariffs against large parts of the world.

On Wednesday, tariffs against about 60 countries came into effect and the stock markets plummeted again.

This is fundamentally bad in many different ways. But it's not unexpected. Now it's about not acting in a way that escalates this, he says to TT in connection with a school visit in Trelleborg.

He says that Sweden and many other EU countries have taken just that position.

To respond clearly, mark that the EU is a power factor, but not shoot ourselves in the foot by escalating the conflict in an uncontrolled way. The EU's and Sweden's goal is to come to negotiations that, on the contrary, lower the tariffs.

Whether it succeeds or not is too early to say, according to the Prime Minister. He believes that the retaliatory tariffs that EU countries are voting on today are a proportionate response.

Despite the concern, Kristersson says that Sweden is well prepared for negative consequences, such as increased unemployment

Sweden is one of the countries that are most prepared. We already knew at the presidential shift that this was in the cards. We have good public finances and will be able to act if this has major consequences for the Swedish labor market.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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