Saturday, September 13, 2025

Polaris of Enlightenment

Economist: Tariff turmoil temporary – Swedish economy remains resilient

Donald Trump's USA

Published 7 April 2025
– By Editorial Staff
Claes Hemberg does not believe that Swedes need to feel any long-term economic anxiety about the current customs chaos.
5 minute read

The announcement of Trump’s trade tariffs and the world’s response in the form of counter-tariffs have led to blood-red figures on the stock market and alarms that the world economy may be heading for a historic crash.

The fall continued on Monday, but independent economist Claes Hemberg believes that the panic is greatly exaggerated, that the crisis is temporary and that the Swedish economy as a whole is likely to do relatively well.

Hemberg compares the situation to covid and the lockdown policy five years ago and believes that we are now facing something similar where it is now tariffs instead of lockdowns that create economic uncertainty.

The economist explains that the stock market’s reaction is not due to the poor performance of individual companies, but to uncertainty about future economic developments, interest rates, household finances, international trade and politics.

– For the economy, there is probably no consequence at all, but the stock market is allowed to make a mess of things like this. It’s not strange, it happens. However, economists, politicians and business leaders must agree on how we should work going forward.

– We cannot surprise each other with different punitive tariffs or taxes, but we have to find a way to work together so that we can build relationships for the long term, because that’s how economics works. It is based on trust, not on surprises, shock therapies, false promises or false threats for that matter, he continued on state television SVT.

“A small delay”

As for the Swedish economy, Hemberg believes that the expected economic recovery is likely to be delayed due to the prevailing uncertainty, but that the effect is expected to be short-lived.

– We will probably only have a small delay. Households are waiting to start consuming, buying a new sofa or new clothes for that matter. There have been higher wages just last week, and we see that interest rates will be low going forward here.

– The tariffs are here and causing some disruption, but it’s probably a temporary issue that we’re discussing and will sort out in the near future. It shouldn’t truly affect our economy – just delay the recovery by a few weeks or maybe a month, he speculates.

“Trump is talking nonsense”

He emphasizes that the market unrest should be seen more as a reaction to the surprise element of the tariffs rather than genuine concern over the economy itself. Hemberg also believes that anyone with a 10- or 20-year investment horizon should sit tight and not panic-sell their funds or stocks, despite the steep downturn. This is because today’s developments won’t affect long-term goals.

– Sometimes there’s thunder and storms in our economy, and today is one of those days. That’s when you stay indoors, watch a movie, or maybe bake some cinnamon buns. Don’t go out now, stay home, I’d say.

Trump has also called on the US Federal Reserve to lower interest rates, something that Hemberg is very critical of.

– He’s quite consistent in claiming and pointing out things that are not a president’s business. The US has an independent central bank, just like Sweden. It’s a public authority responsible for monitoring inflation and the labor market to maintain a rate that supports society, not one influenced by White House politics

“Can’t act like this”

China has responded to Trump’s announcement by imposing its own counter-tariffs, and Hemberg believes that many are inspired by the Chinese and that the EU or Japan may make similar decisions.

– Maybe China is signaling here that they don’t support the kind of politics Trump is promoting and are responding in kind.

– That might have come as a bit of a surprise. But at some point, we also need clear signals back to the White House that you can’t act like this. If we want a society that encourages discussion, mutual trust, and the kind of global trade we so badly need, this won’t do.

“The stock market is a weather vane”

The economist believes that the stock market turmoil will continue for a couple more weeks at most and that the reason is that we simply have not been in this situation before.

– It’s not a big deal if the market jumps around a bit. It does that sometimes, and we just have to accept it. These uncertain days are often very short, intense, and uncomfortable, and they might make our stomachs churn a little.

Hemberg argues that the Swedish krona is unusually strong today and that Swedes will be able to travel more than before, that energy prices are coming down and that there are several other good economic signs.

– Just because there is a person in the White House in the United States who does not understand economics, I do not think we should be worried – even if the stock market is currently turbulent.

– Economics is something that spans over time – many generations, frankly. It’s not something we solve today or this afternoon. The stock market is just a kind of weather vane showing us where things are heading right now – and that fluctuates, and should fluctuate.

“More medicine and bandages needed”

He speculates that Trump may propose new negotiations in response to the counter-tariffs, and that there are likely to be new talks and discussions where all parties agree to back down.

– Just look at what happened five years ago when he was president. It was the same kind of tariff talk then.

– Now the tariffs are broader, tougher, and more intense, so we need more medicine, more bandages, and more talks. It’ll likely take a week or so to sort this out, but we can’t have a policy that’s so surprising or marked by such poor cooperation.

“No big surprises”

With regard to the development of inflation, Claes Hemberg believes that it simply moves in cycles and that it tends to rise at the beginning of the year, but then falls slightly in the spring.

– There are no big surprises. Energy prices are falling, gasoline prices are falling, and yes, things are looking good for our economy. The economy is hopefully gaining momentum here.

– Swedish households are quite cautious after these years of high inflation, and I understand that – that it takes time to win back their confidence again, and the Riksbank is struggling with this. That’s their main goal – to get households to come back to the shops and consume and live a normal life again, he concludes.

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Trump on murdered Charlie Kirk: “A martyr for truth”

Donald Trump's USA

Published yesterday 10:34
– By Editorial Staff
Charlie Kirk is survived by his wife Erika and the couple's two children.
4 minute read

Conservative activist and Turning Point USA founder Charlie Kirk was shot and killed yesterday during an appearance at Utah Valley University. The murder has shocked the United States, and President Donald Trump has condemned the act in several statements, calling Kirk a “martyr for truth and freedom”.

Charlie Kirk, 31, was participating in a public event during his “American Comeback Tour” when he was shot in front of an audience of approximately 3,000 people.

According to the police report, a single shot was fired from a rooftop of a building approximately 200 meters from the stage, and the bullet struck Kirk in the neck. Witnesses describe how the audience threw themselves to the floor or fled in panic, and Kirk was taken to the hospital in critical condition but later died from his injuries.

The investigation is being led by the FBI together with local authorities. Two people were initially brought in for questioning but were later released. Authorities confirm that a person of interest, dressed in black tactical equipment with helmet, mask, rifle and pilot goggles, has been described by witnesses. However, the killer’s identity and motive have not yet been established.

“The Great, and even Legendary, Charlie Kirk, is dead. No one understood or had the Heart of the Youth in the United States of America better than Charlie. He was loved and admired by ALL, especially me, and now, he is no longer with us. Melania and my Sympathies go out to his beautiful wife Erika, and family. Charlie, we love you!”, wrote the US president in a post on Truth Social and also published a filmed speech where he again emphasized his grief.

Photo: facsimile/Truth Social/Trump

— I am filled with grief and anger at the heinous assassination of Charlie Kirk. Charlie inspired millions and tonight all who knew him and loved him are united in shock and horror.

The president described Kirk as a “martyr for truth and freedom” and argued that the 31-year-old’s mission was to make people politically engaged, something he was better at than anyone else, according to Trump.

— Charlie was the best of America. I ask people to commit themselves to the American values for which Charlie Kirk lived and died: the values of free speech, citizenship, the rule of law, and the patriotic devotion and love of God.

Trump emphasized that the act was directed at the entire nation and that “the monster who attacked him” apparently had political motives.

— Violence and murder are the tragic consequence of demonizing those with whom you disagree day after day, year after year, in the most hateful and despicable way possible.

— An assassin tried to silence him with a bullet, but he failed, because together, we will ensure that his voice, his message and his legacy will live on for countless generations to come. Today, because of this heinous act, Charlie’s voice has become bigger and grander than ever before – and it’s not even close.

Trump is one of many public figures who have commented on the murder. At the same time, large memorial ceremonies have been arranged around the country where participants have sung “God Bless America” and praised Kirk.

“Patriots are out signing God Bless America, honoring Charlie’s work to save our country”, notes journalist Nick Sortor, and talk show host Tucker Carlson briefly urged his followers to “never forget this young man”.

Utah Governor Spencer Cox described the shooting as a “political murder” and Turning Point USA, the organization Kirk founded as a teenager, announced in a statement that they are “devastated” by the act and promised to continue Kirk’s work.

In left-liberal media, the tone has at times been different, and several of these have tried to relativize or downplay what happened. Some have even gone so far as to baselessly try to advance the theory that Kirk was accidentally shot by one of his own supporters, despite no evidence supporting this.

Although the assassination occurred as recently as yesterday, it is already considered by many to be one of the most high-profile political murders in modern US history, where many regard Kirk as a leader and central voice for young conservative voters.

Danish media: American agents infiltrating Greenland

Donald Trump's USA

Published 28 August 2025
– By Editorial Staff
Donald Trump has repeatedly stated that Greenland should become American.
3 minute read

At least three Americans with ties to President Donald Trump are conducting influence operations in Greenland aimed at undermining the relationship between Denmark and Greenland.

The men are mapping Trump-friendly Greenlanders and gathering information that could be used to damage Denmark’s reputation, according to sources speaking to Danish media.

Actors with direct connections to the White House are conducting systematic attempts to infiltrate Greenlandic society. The goal is to create a pro-American independence movement and weaken ties to Denmark, reveal several anonymous sources with insight into the matter to Danish public broadcaster DR.

One of the men, who has often been seen publicly with President Trump and recently received a role with influence over US security policy, landed earlier this year in snow-covered Nuuk, Greenland’s capital, with a clear mission. He established lists of both Trump sympathizers and opponents among Greenlandic citizens, it is reported.

At the same time, he is said to have collected material about controversial Danish affairs – such as forced removals of Greenlandic children and the so-called spiral affair where Danish doctors inserted contraceptives into Greenlandic women without consent.

— What we see is the use of soft power, influence and attempts to create internal division, says a source to the channel.

Danish security service confirms influence campaigns

Both Danish authorities and the country’s government are now closely monitoring the Americans’ movements on the Arctic island. Two of the men, both with backgrounds in the Trump administration, have regularly traveled between the US and Greenland in recent years to build networks among politicians and businessmen.

— We are all worried about this. Of course we are, confirms a government source.

The Danish Security and Intelligence Service (PET) also confirms that Greenland is being subjected to influence campaigns and that they are in “ongoing and close dialogue with the Greenlandic authorities about developments in the threat picture”.

According to PET’s assessment, the campaigns aim to “create division in the relationship between Greenland and Denmark” by exploiting real or fabricated conflicts.

American strategy in three phases

Sources within the government describe the Trump administration’s Greenland strategy as divided into three distinct phases since the president declared in December 2024 that American “ownership and control of Greenland is an absolute necessity”.

First came the charm offensive, symbolized by Donald Trump Jr.’s high-profile visit to Nuuk in January. This was followed by pressure on Denmark, when Vice President J.D. Vance visited the American Pituffik base in March and accused Denmark of betraying the Greenlanders. Now the strategy is in its third phase according to sources: infiltration of Greenlandic society.

One source warns that the summer’s calmer activity may be misleading:

— Perhaps what we are experiencing right now is the calm before the storm. And perhaps the fewer activities in Greenland are an expression that professional institutions have begun to operate, which they will be better at hiding, he speculates.

Concerns were heightened after the Wall Street Journal’s reporting in May that American intelligence services had been ordered to intensify espionage in Greenland, focusing on the independence movement and mapping Trump sympathizers.

Sensitive for Denmark

The American activities also place Danish power holders in a delicate position. While they want to alert Greenlanders to the influence attempts and prevent them, they are simultaneously concerned for political reasons about not being perceived as interfering in Greenland’s internal affairs.

— Greenlanders are welcome to work for independence, and the US is welcome to invest and work for stronger ties to Greenland, explains one source, but emphasizes that there are limits that must not be crossed.

— No one is allowed to spy – not even the Americans.

The White House has declined to comment on the allegations from Danish media, and the US embassy in Copenhagen, Denmark refers to the fact that “the American government does not control or direct the actions of private citizens” and that they “respect the Greenlandic people’s right to determine their own future”.

Trump threatens new tariffs in retaliation for “discriminatory” tech taxes

Donald Trump's USA

Published 26 August 2025
– By Editorial Staff
President Trump defends Meta, Google and Amazon against foreign taxes and threatens US countermeasures.
2 minute read

Donald Trump warns of new tariffs and export controls against countries that he claims “discriminate” against American tech giants. The statement could escalate trade conflicts with both the United Kingdom and the EU.

In a post on his Truth Social platform on Monday evening, the president launched a harsh attack against “digital taxes, legislation, rules or regulations” and claimed that as president he intends to defend American companies against what he described as malicious attacks.

“As the President of the United States, I will stand up to Countries that attack our incredible American Tech Companies. Digital Taxes, Digital Services Legislation and Digital Markets Regulations are all designed to harm, or discriminate against, American Technology”, Trump wrote.

“They also, outrageously, give a complete pass to China’s largest Tech Companies. This must end, and end NOW!” he continued.

True to form, Trump uses his own social media platform to tell the world about his plans. Photo: facsimile/Donald Trump/Truth Social

According to analysts, the statement risks further deteriorating trade relations between the US, the United Kingdom and the EU.

“Flagrant attack”

Washington has long criticized the UK’s digital services tax, which despite American criticism was retained after an agreement with Trump’s previous administration. The US has also directed harsh criticism at the EU’s Digital Services Act, which places higher demands on large tech companies to control content on their platforms.

Several EU countries, including France, Italy and Spain, have had their own taxes of similar nature since before, reports Financial Times.

In June, Canada chose to scrap its digital services tax to pave the way for trade negotiations with the US. Trump had previously described the tax as a “direct and flagrant” attack. The British also considered changes to their tax, but ultimately managed to reach a trade agreement without making changes.

In the UK’s case, the tax is 2 percent and applies to companies like Alphabet, Meta and Amazon. It affects companies with global revenues over £500 million and is levied on parts of turnover exceeding £25 million in the country.

Nvidia and AMD to pay 15 percent of China revenues to US

Donald Trump's USA

Published 13 August 2025
– By Editorial Staff
Lisa Su, CEO of AMD, holds up an AMD Zen 5 chip during the presentation of next-generation processors at Computex 2024 in Taipei, Taiwan.
2 minute read

American semiconductor manufacturers Nvidia and AMD have agreed to pay 15 percent of their revenues from chip sales in China to the US government. The arrangement is the condition for obtaining export licenses under President Donald Trump’s administration.

According to sources familiar with the situation, including a US government official, both companies approved the financial arrangement to obtain export licenses for the Chinese market, which were granted last week.

The American official stated that Nvidia agreed to share 15 percent of revenues from H20 chip sales in China, while AMD will provide the same percentage from MI308 chip revenues. The Trump administration has not yet decided how the money will be used, reports Financial Times.

Never seen before

According to export control experts, this is the first time ever that an American company has agreed to pay a portion of its revenues to obtain export licenses. However, the arrangement fits into a pattern under the Trump administration where the president urges companies to take actions, such as domestic investments, to avoid tariffs.

The Commerce Department began issuing H20 export licenses on Friday, two days after Nvidia CEO Jensen Huang met with President Trump. The administration has also begun issuing licenses for AMD’s chips to China.

Nvidia did not deny the arrangement and said: “We follow rules the US government sets for our participation in worldwide markets”. AMD commented: “Our initial licence applications have been approved” and added that the company “adhere to all US export control laws and policies”.

Criticism from security experts

The decision to sell the chips to China has drawn criticism from American security experts who argue that the H20 chip will help the Chinese military and undermine US strength in artificial intelligence.

— Beijing must be gloating to see Washington turn export licences into revenue streams, says Liza Tobin, a China expert who served on the National Security Council during Trump’s first administration.

In a letter to Commerce Secretary Howard Lutnick, Matt Pottinger, former deputy national security advisor, and 19 other security experts warned against granting H20 licenses. They called the H20 a “potent accelerator of China’s frontier AI capabilities”.

Nvidia dismissed the criticism as “misdirected” and rejected that China could use the H20 for military purposes.

The debate comes as the US and China hold trade talks that Trump hopes will pave the way for a summit with Chinese President Xi Jinping.

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