Navigating New Opportunities and Challenges: Message from the Ambassador of Finland to the United States
President Donald Trump’s second term has begun with momentum, marked by a series of events in a short period. True to his campaign promises, the President has advanced his agenda through numerous executive orders, many of which were expected. While transatlantic trade continues to flow, it is highly advisable for companies to be prepared for uncertainty and turbulence in the current business environment.
U.S.-Finland trade has traditionally been anchored in Finland’s established industries, notably maritime, machinery, and forestry sectors. While these remain central, Finnish companies are also thriving in connectivity and emerging technologies. Our NATO membership further strengthens our position, opening up new opportunities, including in the defense sector. The U.S. is expected to invest more in industrial competitiveness, particularly in the maritime sector, including icebreaker construction, where Finland is a global leader.
The U.S. is also working to reduce its dependence on China for critical materials, technology, and energy, creating opportunities for alternative partnerships like Finland. As the U.S. seeks solutions to challenges—from advancing quantum computing to enhancing energy infrastructure resilience against extreme weather—Finland is well-positioned to contribute.
While the U.S. offers abundant funding opportunities, competition is fierce, and markets are saturated. Nonetheless, Finland has succeeded through state-specific trade partnerships, having signed MoUs with states like Colorado, Maine, Michigan, and Texas. The long-term goal is to expand trade, investment, and knowledge exchange.
As new areas of cooperation emerge and existing partnerships strengthen, the uncertain economic outlook presents challenges. Tariffs are exerting downward pressure on economic growth and complicating business planning. Long-established, complex supply chains across the Atlantic are difficult to replace or recalibrate, resulting in additional costs and risks for companies on both sides. Therefore, it is crucial to address these challenges in collaboration with the United States through negotiations. Only open trade can support the growth and stability of both economies.
With the tariff policy decisions of the U.S. administration, Finnish companies need to re-evaluate their strategies. For some, this may be the time to invest in manufacturing in the U.S., while others may find European markets more lucrative. Globally, markets have become fragmented, and investments in any market will likely remain within that same market.
For companies entering the U.S. market, delivering on their value proposition is key to success. Scalability is often critical: What value does the company’s solution offer, and to what extent can sales grow? Companies must exhibit adaptability, secure capital, and have a clear market strategy. While the "America First" policy emphasizes American jobs and domestic investments, the U.S. cannot produce or source everything on its own. Despite the current challenges, international cooperation with trusted partners is essential. Finland will continue to distinguish itself with its niche capabilities, quality, security of supply, and technological expertise.
Ambassador Leena-Kaisa Mikkola, Embassy of Finland to the United States of America
March 2025
