Customs|More than 18 percent of export companies will increase their investments across the Atlantic if Trump’s words about tariffs come true.
Nearly one fifth of Finnish export companies are considering starting or increasing business in the United States if the country’s future president Donald Trump decide on high import duties.
The matter is clear from the chamber of commerce’s survey, which was answered by 109 export companies at the turn of the month.
By creating a bridgehead to the United States, it is possible to avoid customs duties, which Trump is pushing for to protect domestic production. Exactly 18.5 percent of the respondents said their intentions to go to the United States.
“In some cases, it may mean that the company’s production is transferred from the rest of the world to the United States. It can therefore also mean the transfer of production from Finland to the United States, in which case jobs and tax revenues would be lost from here to there,” states the director of international affairs of the Central Chamber of Commerce in the press release. Päivi Pohjanheimo.
Trump’s actions ultimately decide, he commented. The uncertain waiting time is explained by the fact that 43.5 percent of the respondents still do not know what to do.
The remaining 38 percent do not intend to start or increase business across the Atlantic.
of the United States importance for Finnish companies “has been growing”, says Pohjanheimo.
Based on the survey, 45 percent saw an increase and only less than three percent saw a decrease. Export companies are looking especially at Texas, California and the capital Washington D.C.
“Our export companies have begun to approach the US market on a state-by-state basis instead of the federal level, which is often a more effective approach in tough competitive situations and gaining visibility.”
The survey of the chambers of commerce was done at the turn of last month by e-mail.
Trump’s tulliuho also spoke in Germany on Friday, where the country’s central bank calculated its growth forecasts.
President of the Bundesbank Joachin Nagelin said the biggest uncertainty factor was “the global growth of protectionism”. According to the news agency AFP, he did not say the name of the United States or Trump out loud.
Germany’s pain is also Finland’s pain, because the country is one of Finland of the most important export countries.