Uncertainty. Negotiations. Cooperation. Opportunity!

Dear Members & Partners – as we ramp up for the year’s second half, the only true constant is indeed change. Norway’s abbreviated campaigning season will shortly conclude on September 8^th. Once voters have spoken, there will be a new ruling coalition – or a reinforced Labor Party. Implications vary greatly across AmCham member industries, and we eagerly anticipate sharing our transatlantic business leaders’ pragmatic and experienced perspectives with the victors.

On looming goods tariffs, uncertainty remains – regardless of eleventh-hour negotiation efforts. The US administration’s decision to impose these tariffs still marks a significant increase in the cost of trading across the Atlantic. On the other hand, it is the beginning of sorely needed clarity for Norway-based manufacturers. These US and locally parented companies’ ability to adapt and recalibrate will remain a competitive advantage. Further implementation specifics, including what comes next for Section 232 tariffs, are now critically needed.

Increasingly, US small businesses and their customers will acutely feel the financial burden imposed by tariffs. US Trade Representative Jamieson Greer’s stated ambitions are to reverse US trade deficits in goods over time, increase real median household income, and increase manufacturing’s share of GDP. Time thus becomes the operative word, as bipartisan voter patience inevitably frays.