On 27 July 2025, after months of difficult negotiations marked by aggressive and bullying tactics from the Trump administration, the EU and the US reached a trade agreement imposing a significant 15% tariff on most European goods exported to the US. For those of us deeply involved in the Nordic hardtech ecosystem, this development is not just concerning – it’s a clear signal to act decisively.
Every year, the Nordic countries export goods worth over €50 billion to the US. Particularly exposed are our hardtech and deeptech sectors: advanced manufacturing, vehicles, cleantech hardware, and IoT solutions. A 15% tariff directly hits competitiveness, squeezes margins, and makes even our most innovative products less attractive in the American market.
Admittedly, some strategic sectors – including aircraft (parts), semiconductor (equipment), and certain specialized chemicals – are temporarily exempt from these tariffs. Yet for most Nordic hardware businesses, the agreement means higher costs and tougher conditions. These tariffs will also hit US consumers and businesses through increased prices and renewed inflationary pressure.
So, what should Nordic companies do?
First, we must urgently redirect our international strategy towards emerging markets in Asia, Latin America, and within Europe itself. This shift reduces dependency on the US, spreads risk, and unlocks new paths for growth.
Second, now is the time to double down on local and regional supply chains. Prioritising Nordic collaboration, local sourcing, and homegrown innovation can build the resilience needed to withstand external shocks and protect our industries in the long term. Europe – despite its challenges – turns out to be a safer harbour than the US.
At the same time, we must demand that our political leaders negotiate smarter, stronger trade agreements and refuse to be intimidated into structurally disadvantageous deals.
This trade deal confirms an uncomfortable truth: relying too heavily on unpredictable “allies” – particularly under volatile leadership – puts our economic future at serious risk. Europe and the Nordic region must now commit to building greater continental self-sufficiency by investing in local ecosystems and resilient domestic markets.
Let’s secure our own future – rather than leave it in the hands of global bullies.
