Economist plays down US export risks under Trump

Danish export companies may have mixed feelings as Donald Trump is set to become the U.S. president again next year. During his campaign, Trump spoke of supporting American jobs by imposing tariffs on goods from China and Europe. However, Tore Stramer, Chief Economist at Danish Commerce, advises calm, noting that U.S.-Denmark trade actually increased during Trump’s previous presidency. He argues that a trade war is not the main scenario, as it would also hurt the U.S. With 80% of Danish goods exports to the U.S. produced domestically using American labor, they are unlikely to be affected by potential trade conflicts. While the transport sector might suffer from reduced global trade, Stramer anticipates short-term growth in trade with the U.S., fueled by Trump’s promised economic policies of tax cuts, reduced business burdens, and increased government spending, leading to stronger American consumers and rising demand for Danish exports.