Sweden’s Finance Minister Elisabeth Svantesson said Sweden will not yield to pressure from the United States after President Donald Trump threatened to impose sweeping tariffs on European allies over Greenland, warning that while such measures would hurt Sweden’s economy, the country is prepared to respond.
“As the Prime Minister has said: we will not allow ourselves to be blackmailed,” Svantesson said, adding that Sweden will “continue to stand side by side with Denmark and Greenland.”
“As the Prime Minister has said: we will not allow ourselves to be blackmailed. Sweden will continue to stand side by side with Denmark and Greenland. Should the tariffs become reality, it will of course be damaging to the Swedish economy. But the Swedish economy rests on solid ground and we have stable public finances. We will do what is necessary to protect our economy and our citizens. Moreover, we are an integrated part of the EU’s internal market and the cooperation among us European finance ministers is strong.”
Her remarks come amid a growing diplomatic rift between Washington and European capitals following Trump’s announcement that the U.S. would impose a 10% tariff on goods from Denmark, Sweden, and several other European countries starting Feb. 1, 2026, with the rate set to rise to 25% by June unless a deal is reached for the acquisition of Greenland.
European leaders have uniformly rejected the proposal, stressing that Greenland is part of the Kingdom of Denmark and that issues of Arctic security are already handled through NATO cooperation.
Svantesson acknowledged that tariffs would have real consequences for Sweden’s export-driven economy but said the country is financially resilient.
“Should the tariffs become reality, it will of course be damaging to the Swedish economy,” she said. “But the Swedish economy rests on solid ground and we have stable public finances. We will do what is necessary to protect our economy and our citizens.”
Sweden, like several other Nordic and European countries, has participated in NATO-coordinated training exercises in and around Greenland, aimed at strengthening Arctic security amid increased Russian and Chinese activity in the region. Trump has cited those deployments as justification for his tariff threat, claiming European nations are escalating tensions and putting global security at risk.
Svantesson emphasized that Sweden’s response will not be unilateral, pointing to the European Union’s collective economic strength.
“Moreover, we are an integrated part of the EU’s internal market and the cooperation among us European finance ministers is strong,” she said.
EU officials have warned that tariffs could undermine transatlantic relations and risk triggering a broader trade confrontation between the United States and Europe. Several European leaders have said any confirmed tariffs would be met with a coordinated and proportional response.
The dispute has also sparked protests in Denmark and Greenland, where demonstrators have rallied against Trump’s remarks and rejected any suggestion that the Arctic island could be sold or transferred under economic pressure.
As European governments close ranks, Svantesson’s comments reflect a widening consensus across the EU that Trump’s tariff threat crosses a line and that economic coercion against allies will not alter Europe’s position on Greenland or Arctic security.
