Norway is bracing for a potential economic blow as U.

S. President Donald Trump announces new tariffs on steel and aluminum imports starting March 12. Finance Minister Jens Stoltenberg warns that Norwegian businesses, like Raufoss Aluminium, could face a "triple tariff squeeze"—first from U.

S. tariffs, then from EU countermeasures, and finally from being excluded from EU protections.

Stoltenberg emphasizes the need to safeguard Norway’s access to European markets through the EEA agreement and diplomatic efforts.

The aluminum industry, vital to Norway’s economy, fears significant losses, with half of Raufoss Aluminium’s revenue tied to the EU.

Stoltenberg calls for preparedness, noting that a global trade war could also lead to higher interest rates and inflation in Norway.