"We are currently studying how the increased duties can be expected to impact on the Swedish business sector. So far, we have determined that products such as lingonberry jam and frozen pork, with a total export value of some SEK 60 million, will be subject to duties of one hundred per cent," says Minister for Trade Ewa Björling.
According to US estimates, the total value of the sanctions imposed as a result of the ongoing conflict amounts to USD 116.8 million. A wide range of products from all EU countries - with the exception of the UK - will be subject to duties of between 100 and 300 per cent.
In connection with the imposition of the new sanctions, punitive duties on juice concentrate will be abolished. However, the export value of these products is limited. The new duties will cover all current exports of Swedish pork to the US.
"I am disappointed that the US has chosen to escalate the conflict, not least in a situation where new duties and more protectionism are the last thing that the world economy needs. Instead, we should direct our combined efforts towards achieving more free trade and greater openness," says Dr Björling.
"During the course of the conflict, Sweden has been proactive in the EU in trying to find an effective compromise solution. We will continue these efforts after the new administration takes office in the US. At the same time, we maintain - as does the EU Commission - that the new US trade sanctions are in breach of WTO rules and that it may be necessary to investigate this matter," continues Dr Björling.
The new duties will partially replace older duties, which will be abolished. Many people consider the procedure involving trade sanctions that are revised every six months to be particularly detrimental since this creates a great deal of uncertainty in the business sector as to the terms and conditions that will apply in the future.