Two-thirds of industries to be hit by tariff war

If Donald Trump’s tariff threats lead to a global trade war, Danish businesses will also be affected. A survey by Statistics Denmark reveals that 71% of industrial companies expect to be impacted, as tariffs could make goods more expensive. Morten Granzau from the Confederation of Danish Industry notes that even the threat of such a war requires businesses to prepare for various scenarios due to significant uncertainties. Tore Stramer from the Danish Chamber of Commerce points out the broader potential impact on Danish businesses but notes current business confidence remains mostly positive, though it slightly decreased from 105.2 to 104.1 in April. If the situation worsens, companies may reduce investments and hiring, and banks might tighten credit, which would hinder economic activity and growth.