US Tariffs Would Seriously Hit the Finnish Economy

Jyrki Ali-Yrkkö

No 155, ETLA Brief from The Research Institute of the Finnish Economy

Abstract: 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%.

Keywords: Trade; Trade policy; Tariff; Geoeconomics; the United States (search for similar items in EconPapers)
JEL-codes: F12 F15 F41 L5 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2025-03-24
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