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Norway

US Revised Tariffs (%)

15

Ease of doing business

theboardiQ Tariffs Dashboard:

Powering Mutually Beneficial Global Trade.

 

Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.

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Revised Tariff %
Original Tariff %
Country Tariff Rate %
Share of US Imports % (1 implies <1%)
15
15
2.3
1
Exports (in USD Bill.) 2024
Imports (in USD Bill.) 2024
Balance (in USD Bill.) 2024
4.59
6.58
-1.99

Implications

As of January 18, 2026, the trade relationship between the United States and Norway has entered a period of extreme tension. This shift is driven by the "Greenland Escalation," where the U.S. administration has tied broad import duties directly to the acquisition of the Danish territory.

Below is the latest status update for Norway:


Norway Tariff Status (As of Jan 18, 2026)

Category

Latest Data / Status

Current Tariff Rate

15% (General Reciprocal Baseline)

Upcoming Rate Hike

+10% (Total 25%) effective Feb 1, 2026

Future Escalation

+25% (Total 40%+) scheduled for June 1, 2026

Trade Status

Critical/Strained. Norway is part of the "Greenland Eight" NATO allies targeted for their opposition to the U.S. purchase of Greenland.

Deal Status

No Deal. Norway Prime Minister Jonas Gahr Støre has rejected the use of tariffs as leverage, stating "threats have no place among allies."

Impact on Major Norwegian Companies


The targeted nature of these tariffs—now covering "any and all goods"—places several key Norwegian industries at high risk:

  • Equinor (Energy): While the U.S. remains reliant on energy imports, new "reciprocal" surcharges could impact Equinor’s significant offshore wind and gas investments in the U.S.

  • Mowi & SalMar (Seafood): The U.S. is a top market for Norwegian salmon. A 25%–40% price hike would likely lead to immediate market share loss to Chilean and Canadian competitors.

  • Hydro (Aluminum): Already subject to historical Section 232 duties, Hydro faces a "double-stack" of tariffs that could make Norwegian aluminum uncompetitive in the U.S. automotive and construction sectors.

  • Kongsberg Group (Defense/Tech): Despite being a key NATO partner, Kongsberg's exports of high-tech defense systems are now under the "Greenland leverage" umbrella, potentially delaying U.S. procurement contracts.


GDP and Economic Implications


  • Norway GDP: Statistics Norway (SSB) has revised its 2026 growth forecast downward. While mainland GDP was expected to grow by 2.0%, the "Greenland Trade War" is projected to shave 0.3% to 0.5% off that growth if the February 1 tariffs are fully implemented.

  • Currency Impact: The Norwegian Krone (NOK) has seen increased volatility. Higher U.S. interest rates combined with trade uncertainty are forcing Norges Bank to consider maintaining higher rates (projected 3.5% for 2026) to defend the currency.

  • U.S. Inflation: Analysts warn that targeting Norway (a key supplier of energy and seafood) will contribute to U.S. consumer price index (CPI) pressure, as these costs are typically passed directly to American buyers.


The "Wild Card": Supreme Court Decision


The U.S. Supreme Court is expected to rule shortly on the IEEPA (International Emergency Economic Powers Act).

  • If the Court rules against the President: The 10%–25% "Greenland" hikes would likely be declared illegal, as they lack a traditional "national security" nexus required by law.

  • If the Court upholds the power:

US Revised Tariffs

Country Tariffs

Balance of Trade

Commercial Guide

Learn about the market conditions, opportunities, regulations, and business conditions in countries, prepared by U.S. Embassies worldwide, Commerce Department, State Department and other U.S. agencies’ professionals

Tariff Rate for US

World Bank staff estimates using the World Integrated Trade Solution system, based on tariff data from the United Nations Conference on Trade and Development's Trade Analysis and Information System ( TRAINS ) database and global imports data from the United Nations Statistics Division's Comtrade database.

US Imports Guide 

United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.

Investing in USA

theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters

Sources : ForbesUSDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia International Trade Administration

theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

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