Latest news with #ElisabethSvantesson
Yahoo
17-07-2025
- Business
- Yahoo
EU Must Be ‘Frank, Quick' in Trade Talks With US, Sweden Says
(Bloomberg) -- Sweden's finance chief said the European Union needs to work quickly and stand firm in its tariff negotiations with the US as the bloc seeks to end the costly uncertainty triggered by the protracted trade talks. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say 'I hope we'll have deal as soon as possible,' Elisabeth Svantesson told Bloomberg Television in an interview on Thursday. 'We have to be quite frank, quite quick now, to reach a deal because we have waited so long,' she said. The US has set a deadline of August 1 after which it has said tariffs of 30% will be imposed on EU goods triggering a scramble by the bloc's leaders to strike a better deal before that date. EU Trade Commissioner Maros Sefcovic has expressed frustration at the US administration for its latest move as Brussels believed it was very close to an agreement before the latest salvo. France has been pushing for the EU to use its so-called anti-coercion instrument, its most powerful trade tool, against the US should the two sides fail to reach an agreement, Bloomberg reported on Wednesday. The US has resisted lowering agricultural tariffs, exemptions for cars and wine. Svantesson said the EU should be open to using all available tools. 'We shouldn't rule out any options, but we need to be tough,' she said. How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Forget DOGE. Musk Is Suddenly All In on AI How Hims Became the King of Knockoff Weight-Loss Drugs The Quest for a Hangover-Free Buzz What the Tough Job Market for New College Grads Says About the Economy ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
17-07-2025
- Business
- Bloomberg
Sweden Says EU Must Be ‘Frank, Quick' in US Trade Talks
Sweden's Finance Minister Elisabeth Svantesson says the European Union needs to work quickly and stand firm in its tariff negotiations with the US. Speaking to Bloomberg's Oliver Crook on the side-lines of the G-20 meeting in South Africa, Svantesson also criticized the EU's proposed $2 trillion budget for 2028-2034 which was bigger than many expected. (Source: Bloomberg)
Bloomberg
17-07-2025
- Business
- Bloomberg
EU Must Be ‘Frank, Quick' in Trade Talks With US, Sweden Says
Sweden's finance chief said the European Union needs to work quickly and stand firm in its tariff negotiations with the US as the bloc seeks to end the costly uncertainty triggered by the protracted trade talks. 'I hope we'll have deal as soon as possible,' Elisabeth Svantesson told Bloomberg Television in an interview on Thursday. 'We have to be quite frank, quite quick now, to reach a deal because we have waited so long,' she said.
Reuters
15-07-2025
- Business
- Reuters
Swedish finance minister says 10% U.S. tariffs the lowest EU can expect
STOCKHOLM, July 15 (Reuters) - A tariff level of 10% is the best that the European Union can expect from negotiations with the United States, Sweden's Finance Minister Elisabeth Svantesson said on Tuesday. "We have to reckon on 10% in any case. That's the lowest we can expect," Svantesson told reporters. Svantesson said uncertainty about tariffs as well as the war in Ukraine and the conflict in the Middle East meant that Sweden's economy remained weak. In June, the government cut its forecast for growth this year to 0.9% - half the 1.8% it expected in May. Nevertheless, Svantesson said the economy was fundamentally strong and robust government finances meant Sweden could easily finance its rapid increase in defence spending, though there would be less room for other reforms in the autumn budget. Think tank NIER reckons the government has room for 34 billion Swedish crowns ($3.54 billion) in unfinanced measures in the upcoming budget bill, which will be published in September. Svantesson said the budget would focus on strengthening households and getting more people into work. "It is not the time for tax hikes, quite the opposite in the current situation," she said. ($1 = 9.6162 Swedish crowns)
Euractiv
10-07-2025
- Business
- Euractiv
Sweden rejects EU plan to fund budget with tobacco tax
Swedish Finance Minister Elisabeth Svantesson has strongly opposed an EU proposal to use revenue from higher tobacco taxes to help fund the bloc's next long-term budget, calling it "completely unacceptable". The proposal, referenced in a document from Germany's International Affairs Liaison Office in Brussels and submitted to the German parliament, suggests new EU revenue sources for the 2028–2034 budget could include levies on electronic waste and tobacco. Though not yet officially confirmed by the European Commission, the idea adds to growing pressure from at least 15 EU member states to raise excise duties on tobacco products. As Euractiv reported last month, the European Commission is considering a 139% tax hike on cigarettes, along with steeper levies on alternative products such as e-cigarettes, nicotine pouches, and heated tobacco. Sweden now joins Italy, Greece, Romania, and Bulgaria in opposing the move, primarily to defend snus – a moist tobacco pouch banned in the EU since 1992 but legal in Sweden under an EU accession treaty exemption, which allows domestic sale only if it is not marketed elsewhere in the bloc. In a post on X, Svantesson called the proposal would result in 'a very significant tax increase on white snus,' and that the Commission wants the tax revenue 'to go to the EU and not to Sweden.' She said she had raised the issue with Commissioner for Climate, Net Zero and Clean Growth, Wopke Hoekstra, who is also responsible for EU tax matters and pledged to 'continue to fight for Swedish snus.' Sweden has positioned itself as a model for tobacco harm reduction, citing a smoking rate of just 5% and a decline in smoking-related cancers.
