Trade war|Increasing imports of China can also be a challenge for certain Finnish companies.
Gathering Imports of goods from China are likely to feel like Finnish purses.
Aino Silvo, a senior economist at the Bank of Finland, says that prices for Chinese products may drop “somewhat” as the supply of products is increasing in the European and Finnish market.
“Yes, prices show the pressure pressure. Of course, it is a good thing for the consumer,” Silvo says.
According to him, in particular, consumer electronics, batteries, cars and various machinery and equipment needed by industry are imported from China to Finland.
It is precisely these products that China is likely to strive to bring more and more to Finland. According to Silvo, there is enough demand for Chinese consumer electronics in particular, as these products are hardly manufactured in Europe.
“Let’s talk about smartphones and television, for example.
Price impacts can appear quickly on store shelves. Chinese companies are probably reacting to US duties in a way.
“I would see that companies there are prepared and are already looking for new markets. So the prices of Chinese products can respond quickly in Finland,” Silvo estimates.
US And the trade war between China has taken ever tougher rounds in recent days, and customs fees have been raised to turn.
US president Donald Trump On Wednesday, the local time announced that US import duties to China will rise. On Thursday, a total of 145 % of the White House was confirmed. China has raised its own counterparts to 125 %.
According to Silvo, the pecking will lead to some of China’s US-exported exports of US channeling elsewhere, such as Europe.
The amounts on the move are significant, although it is difficult to make an accurate estimate of changes in freight flows, among other things, because Trump’s customs policy has been quite rumbling.
US Census Agency by China took products to the United States last year for about $ 439 billion (about EUR 395 billion). EU in the area China, on the other hand, took the products worth about EUR 518 billion. The share of this was in Finland Duty According to EUR 7.4 billion.
Silvo estimates that growth in China’s imports in Finland can be a challenge, for example, for domestic companies that manufacture industrial machines and components. In recent years, China has invested in similar high -tech production and is therefore competing with Finnish companies in the industry.
“In industries with competition [suomalaisten ja kiinalaisten yritysten kesken]Increasing Chinese imports can challenge the competitiveness of Finnish companies and tighten competitive positions in Finland, ”says Silvo.
However, he sees that potentially tightening competition will only be delayed in Finnish production and employment.
“I would see that by the end of this year or next year, the effects are starting to appear.”