Swedish economists and officials have criticized US President Donald Trump's escalation of global tariffs to 15% following the Supreme Court's invalidation of his prior levies, citing policy unseriousness and economic uncertainty for exporters. The government plans to assist companies via a hotline and push new trade deals.
As detailed in our coverage of the US Supreme Court's February 20, 2026, ruling striking down President Trump's previous import tariffs under the International Emergency Economic Powers Act (IEEPA), Trump quickly responded by imposing 10% global tariffs under Section 122 of the Trade Act of 1974, then raised them to the maximum 15% on February 21 via Truth Social. The new measures are set to take effect February 23 and last 150 days, pending Congressional extension, though details on application and overlap with prior tariffs remain unclear.
Swedbank chief economist Mattias Persson told TT news agency: 'It creates a whole different uncertainty; we don't know which tariffs will apply and whether they will last the whole year out?' Per Åsberg, chief economist at the National Board of Trade (Kommerskollegium), sees the new tariffs as replacing the old but warns: 'As usual, there is uncertainty until all formal documents have arrived and we see what is actually charged.' He described it as a desperate move, shifting from prior justifications like drug imports and industrial growth.
Aid and Foreign Trade Minister Benjamin Dousa (Moderate Party) stated: 'This is not a serious way to conduct trade policy. The government will guide Swedish companies through all the different announcements with our tariff hotline. At the same time, it is obvious that we need to become less economically dependent on the US. This is best done by finding new markets for Swedish companies. Therefore, we are working day and night to conclude new free trade agreements with large parts of South America, India, and Australia.'
Kommerskollegium reports Swedish exports to the US have declined, but notes the primary burden falls on US consumers and importers. Unresolved questions persist around refunds for approximately 1.5 trillion SEK in previously collected duties.
