Swedish Finance Minister Elisabeth Svantesson announced that the country's economic recovery is likely to be postponed by at least six months due to high tariffs imposed by the US and ongoing global trade tensions. She expressed disappointment in how the US treats its allies, suggesting that trust has been broken. Despite the challenges posed by the trade war, Svantesson emphasized Sweden's strong financial position, which has been underpinned by a robust financial framework introduced by former finance minister Goran Persson.
"We had good conditions for kickstarting the economy, but then this happened, which we've spoken about a lot the trade war materialised," Svantesson said.
"It will take a lot of time to rebuild that trust," she added, expressing disappointment in the US' treatment of its allies and trade partners.
"What we're experiencing now is something we've never seen before," she stated regarding the impact of rising US tariffs.
"Sweden is in a fantastic position, the financial framework that was put into place in Goran Persson's era has put us in an unbelievably strong position."
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