US Tariffs Would Seriously Hit the Finnish Economy

Abstract

The United States has proposed large tariff increases, which will probably also apply to the EU. The majority of exports from both Finland and the EU to the United States consist of goods, which would be subject to customs duties. Conversely, the bulk of US exports to the EU are services. Consequently, the EU’s retaliatory actions targeting US service exports would be more effective than counter tariffs on imports of goods alone. Roughly estimated, Finland’s GDP would fall by 0.5–1.6% if the US raised tariffs on all products to 25%.

Information om publikationen

Forskningsgrupp
Förnyelse av företag
Serie
ETLA Muistio - ETLA Brief 155
Datum
24.03.2025
Nyckelord
Trade, Trade policy, Tariff, Geoeconomics, the United States
ISSN
2323-2463
JEL
F15, F12, F41, L5
Sidor
6
Språk
Finska