As of Sunday, April 20, 2025, the tariff situation between the United States and Norway has seen significant developments following the broader tariff announcements by the Trump administration:
Key Updates on US Tariffs on Norway:
Baseline Tariff: A 10% tariff applies to most goods imported from Norway into the United States. This baseline tariff went into effect on April 5, 2025.
"Reciprocal Tariff" on Salmon: Notably, Norway's significant salmon exports to the U.S. are now subject to a 15% tariff. This rate is higher than the baseline, indicating a specific "reciprocal" measure based on the trade relationship in this sector.
Impact on Salmon Industry: This 15% tariff is causing considerable concern within the Norwegian salmon industry, as the U.S. is its most valuable seafood export market. The increased cost could make Norwegian salmon less competitive compared to supplies from countries facing lower tariffs (e.g., UK, Iceland, Chile, Australia, New Zealand at 10%).
Broader Economic Concerns: Norwegian Prime Minister Jonas Gahr Støre has described the U.S. tariffs as "very serious" and "bad for the world economy" and critical for Norway. There are worries about the impact on other Norwegian exports, particularly steel, aluminum, and auto parts that are heavily reliant on the European Union, which also faces a 20% tariff on most goods and a 25% tariff on cars.
Potential for Negotiation: While the tariffs are in effect, there have been indications that the U.S. administration is open to negotiations regarding these new tariffs. However, Norway's Prime Minister has suggested that Norway might not be among the first countries invited to the negotiating table.
Norway's Response:
So far, Norwegian officials have indicated that no immediate countermeasures are planned. However, they are stressing that the tariffs now apply to a substantial amount of Norway's annual exports to the U.S.
Norway's Foreign Minister has also raised concerns that the U.S. tariffs might contradict NATO's principles of economic cooperation among allies.
Trade Relationship Overview:
In 2024, the estimated total goods trade between the U.S. and Norway was $11.2 billion.
U.S. goods exports to Norway in 2024 were $4.6 billion, while U.S. goods imports from Norway totaled $6.6 billion.
The U.S. had a goods trade deficit with Norway of $2.0 billion in 2024.
Key U.S. exports to Norway include aircraft, mineral fuels, vehicles, machinery, and optic and medical instruments.
Key U.S. imports from Norway include mineral fuels, fish and seafood, machinery, and optical and medical instruments.
In summary, Norway is now subject to a 10% baseline tariff on most exports to the U.S., with a specific 15% tariff on salmon, a crucial export product. This development is causing concern in Norway due to the potential impact on its economy and trade competitiveness. The situation remains fluid, with potential for future negotiations or adjustments.