Klokken tikker: Norge kan få ekstratoll om få uker

Norway could potentially receive extra tariffs within weeks, according to US trade representative Andreas Motzfeldt Kravik. The US is investigating whether Norway contributes to industrial overcapacity and an artificially weak krone. Kravik believes Norway was treated unfairly when the US imposed an additional 12.5% tariff on several goods.

He points out that Norway already does much to combat forced labor and is among the countries that have taken the hardest stance against it. While the EU received a lower 10% tariff, Norway lacked a comparable ban. Kravik argues that a ban could have lowered the tariff to 10%, but such a measure cannot be implemented in Norway without thorough investigations and proper processes.

The US is also examining industrial overcapacity, noting that much of the oil revenue is invested abroad through oil funds, which could further weaken the krone. Kravik dismisses concerns of currency manipulation and states that Norway will not change the way the Oil Fund operates. The IMF also believes the krone's exchange rate is determined by the market.

Kravik emphasizes the need to find compromises with the US and to argue why this is not currency manipulation, citing national and international sources. Finding compromises with the US is challenging at the moment, but Norway remains committed to lowering the tariffs. Kravik stresses that Norway will not compromise on fundamental principles just to secure lower tariffs. He remains cautious optimistic that the US will conclude its investigation soon.