If all goes well in world trade, it will work fine for Sweden. If not, then we have huge challenges, and that means it is important how the US economy develops. This is also important to the Swedish economy, says Anika Winth, chief economist at Nordia who held a seminar on the topic earlier in the day.
In the last years Swedish exports to the United States are becoming increasingly important, and it is now ranked third, after Norway and Germany. Therefore, the election of the President will also be important for the conditions of conducting a business globally and also in Sweden.
Over the past four years, Trump has also pulled the United States out of a number of collaborations, both in terms of sustainability and trade agreements, that may continue to affect Sweden’s economy.
Swedish companies are really benefiting from this cooperation. It pays to have a system and order in the bylaws and to be able to trust agreements, and it would be very unfortunate if you went down this path. That risk is much greater if Trump is than it is if Biden is, because Biden will likely seek closer cooperation with Europe, says Anika Weinst.
Hardline Against China appears to be one of the only common lines for both Republicans and Democrats, but in the short term, the relationship between the European Union and the United States is especially important for Swedish companies.
We are an open small economy. We totally depend on the open world and trading there too that democrats are not friends with free trade, on the contrary. They tend to be more against it than Republicans, but Trump has his own way of dealing with it. But I think the most important difference is that Biden will likely try to cooperate with the European Union and Europe, while Trump also sees Europe as an enemy, says Anika Weinst.