Trump expects a deal with Norway around Customs duties

US President Donald Trump expressed his confidence in the possibility of a trade agreement with Norway during his meeting with the visiting Premier Youunas Gar Stora, but he did not prepare a preparation for cancellation of his “mutual” customs without obtaining concessions. “We talked about trading, and we will definitely do- we have a very good understanding of the trade. We will do something,” Trump told reporters to the Oval Office on Thursday. Norway is one of about 60 countries trying to negotiate an agreement with the United States to avoid the high customs announced by the US president and then suspended its implementation earlier this month. Trump is currently imposing a 10% essential customs tariff to most countries, with higher levels of fees being applied after a three -month negotiation period has passed. Norway faces 15% of customs duties if it cannot reach an agreement. Trump refers to the wealth of Norway and when asked if he saw the possibility of lowering this tariff, Trump expressed his preference to negotiate an agreement, pointing to the enormous sovereign fund in Norway. “Well, they have a big trillion dollar box … they have no fault … so I think they are ready to pay more than that for us … I hope that.” However, the dialogue is at the same time the ambiguity surrounding Trump’s negotiations on customs duties, as the president has refused to reveal any specific concessions he is looking for or changes that Norway wants to take on. “We have a good relationship with Norway,” Trump said on Thursday. According to Yenos Stoltenberg, the former secretary general of NATO (NATO), who is currently the finance minister in Norway, the release of US customs duties did not raise the issue of raising customs duties. Stoltenberg, who was present in the discussions, said: “Customs are paid by companies that sell goods to the United States and consumers. It is not the Norwegian state that carries the payment of customs duties, so their wealth or poverty has no direct impact on the payment of customs or not,” said Stoltenberg, which was present. He added that Trump was “not indicated during the meeting.” The Scandinavian state has the Norwegian sovereign fund of $ 1.7 trillion, the largest in the world, after investing oil and gas wealth in the 1990s. The fund is considered a large investor in US equities. Trading between Norway and America thanks to the highest incidence or use of electric cars in the world, Norway imports more goods from the United States than it has exported, and one of the most important US products you buy is Tesla electric cars. However, the United States represents only 3% of the total Norwegian exports, and Norway is less influenced by US customs duties compared to the Northern European countries, according to Nordea Bank. Norwegian challenges in trade negotiations, Norway, still outside the European Union, are facing a very complicated challenge in negotiating Trump’s movements to reform world trade. The Scandinavian state rarely has increasing detention with the European Union in the hope of releasing it from any countermeasures that can be taken by Brussels. Store expressed his concern that the trade war would lead to ‘triple pressure’ in Norway, as it could be influenced by customs duties imposed by all parties, which could lead to a possible economic stagnation in the case of a comprehensive trade war.