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US Tariffs Would Seriously Hit the Finnish Economy

Author

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  • Ali-Yrkkö, Jyrki

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%.

Suggested Citation

  • Ali-Yrkkö, Jyrki, 2025. "US Tariffs Would Seriously Hit the Finnish Economy," ETLA Brief 155, The Research Institute of the Finnish Economy.
    • Handle: RePEc:rif:briefs:155
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    File URL: https://www.etla.fi/wp-content/uploads/ETLA-Muistio-Brief-155.pdf
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    More about this item

    Keywords

    Trade; Trade policy; Tariff; Geoeconomics; the United States;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • L5 - Industrial Organization - - Regulation and Industrial Policy

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