Rural-focused Finnish newspaper Maaseudun Tulevaisuus (MT) writes that Donald Trump’s re-election raises questions for Finland’s forestry industry, particularly regarding his proposals to boost American manufacturing and impose broad import tariffs. Source: YLe
Trump’s campaign included a general 10% tariff on imports, with a specific 60% levy targeting Chinese goods.
Finland’s major forestry players – UPM, Stora Enso, and Metsä Group’s Metsä Board – remain cautious, with all three declining to speculate on potential impacts.
Timo Tolonen of the lobby group Finnish Forest Industries emphasised that any significant change would happen over time, with Trump’s term starting in January and policy shifts possibly taking even longer.
“It’s too early to judge at this stage. As an industry, we support free trade and measures that do not lead to protectionism, ensuring a level playing field for industry,” Tolonen told MT.
Currently, Finland exports forestry products worth one billion euros annually to the US, accounting for more than 8% of the country’s total forestry exports.
For Metsä Board, which exports primarily from Finland and Sweden without local US production, new tariffs could pose challenges.
UPM, on the other hand, operates production sites in the US, potentially giving it an advantage if Trump’s policies favour domestic manufacturers.
Increased tariffs may reduce demand for Finnish imports, forcing companies to seek new markets and offer discounts, especially in competitive sectors like cardboard.
Meanwhile, the US dollar’s value has bolstered in the wake of Trump’s victory. This could help offset some impacts by making Finnish exports cheaper for American buyers, though how long this exchange rate will hold remains uncertain.
