Svantesson was in Washington last week to participate in the World Championship's and World Bank's spring meetings. There, she also met with the US Finance Minister Scott Bessent, who, according to her, holds fast to the notion that the trade balance between the US and Europe is "unfair" and that tariffs are necessary.
That the US would abolish the raised tariffs entirely, Svantesson therefore considers unlikely. Meanwhile, she sees a glimmer of hope in the tariff war:
We were still relieved when it became a pause, but one should remember that ten percent remains. But the pause is still a sign that they want to negotiate. That's the glimmer of hope.
"Negotiations are moving forward"
On April 10, Donald Trump paused his punitive tariffs and retained only the so-called base tariffs of ten percent, which he had previously announced against all countries in the world. The EU responded by putting its retaliatory tariffs against the US on pause for three months.
According to Svantesson, the negotiations between the EU and the US are moving forward.
It's not happening in a hurry. They are thoughtful and precise. It's a strength that the EU Commission is handling the negotiations for all 27 member states. The EU market is, after all, larger than the American one. It's a 90-day pause, so hopefully, we'll agree before that period is over.
"It's about being specific"
In response, Svantesson believes that the EU should introduce tariffs that "can harm the American economy".
It's about being as precise and specific as possible where it's toughest for American companies and the American economy. I think that's the only thing that bites on the president. You want free trade, but when Trump creates this kind of war, you can't just nod your head, you have to give counter-pressure, she says.
