Norway-US Tariffs/Concern

Norwegian industry concerned about increasing trade tension created by steep U.S. import tariffs

  • English

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FILE: Oslo, Norway - Date Unknown (CCTV - No access Chinese mainland)
1. Various of traffic, buildings

Oslo, Norway - Recent (CCTV - No access Chinese mainland)
2. SOUNDBITE (English) Tore Myhre, Director, International Department, Confederation of Norwegian Enterprise:
"We are very concerned that there is now going to be a trade war and this will escalate even more. Because that will affect both the economic growth, it will affect the market for Norwegian companies, and it will affect the value chains, because we see now that production and trade is much more interlinked than it used to be and it is not good for anybody to stop this trade or to put tariffs that make this trade more difficult."

FILE: China - Exact Location and Date Unknown (CCTV - No access Chinese mainland)
3. Various of car assembly line, workers
4. Various of containers, ships, container cranes at seaport

Storyline


As the United States repeatedly imposed steep tariffs on imports, Norway's industry and business sector has voiced its concerns about increasing trade tension.

The U.S. started to slap tariffs on steel and aluminum imports from the European Union starting from June 1. Its additional tariffs of 25 percent on 34 billion U.S. dollars' worth of Chinese imports also took effect on July 6.

Such move has raised concerns among many countries in Europe.

"We are very concerned that there is now going to be a trade war and this will escalate even more. Because that will affect both the economic growth, it will affect the market for Norwegian companies, and it will affect the value chains, because we see now that production and trade is much more interlinked than it used to be and it is not good for anybody to stop this trade or to put tariffs that make this trade more difficult," said Tore Myhre, director of the International Department of the Confederation of Norwegian Enterprise (NHO), the country's major organization for employers and the leading business lobby.

Many analysts believe the unilateral protectionist trade measures of the U.S. undermine the multilateral trading system

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  • ID : 8085187
  • Published : 2018-07-11 17:40
  • Last Modified : 2018-07-11 17:40:14
  • Location : Oslo,Norway
  • Category : economy, business and finance
  • Duration : 1'23
  • Audio Language : English/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Version : 2
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