Containers at Vuosaari Harbour in Helsinki. Photo: Heikki Saukkomaa / Lehtikuva
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A majority of Finnish export firms support the European Union adopting countermeasures in response to new or proposed U.S. tariffs, according to a survey released by the Finland Chamber of Commerce.
The survey, conducted in early June, found that 51 percent of respondents back the EU imposing retaliatory tariffs to match U.S. trade restrictions. Only a minority of firms preferred a more conciliatory approach.
The findings reflect growing concern among Finnish exporters over the impact of U.S. trade policy. More than 86 percent of respondents said U.S. measures have negatively affected their operations. Just 10 percent reported no impact.
Technology sector firms have been particularly affected. A separate industry-specific poll indicated that new orders have nearly stopped altogether.
Despite these challenges, confidence in export growth has increased. Sixty-four percent of companies now expect exports to grow this year, up from 47 percent a year ago.
Paivi Pohjanheimo, Director of International Affairs at the Finland Chamber of Commerce, said exporters remain optimistic despite shifting U.S. policies. “Exporters believe they can weather the situation, and the economy will recover as exports gain momentum,” Pohjanheimo said.
Many firms are actively diversifying. About one-third of respondents said they are increasing operations within the EU and European Economic Area to reduce exposure to U.S. trade risks.
For those doing business in China, the country’s importance remains steady. Eighty-six percent of such firms reported no change in their approach to China despite global tensions.
The export manager survey was conducted between 5 and 10 June and gathered responses from 138 Finnish export businesses.
HT
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Source: www.helsinkitimes.fi
