Finnish papers are abuzz with news of US President Donald Trump's announcement of a new 20 percent import tariff on products from EU countries.
Helsingin Sanomat reports that experts in Finland are concerned about this unprecedented initiative.
Timo Vuori, Director of International Trade and Trade Policy at the Confederation of Finnish Industries (EK), called the tariffs a "significant blow to EU and Finnish exports".
"This will definitely be felt," he said.
The pending tariffs on other countries range from a baseline rate of 10 percent, with some reaching as high as 46 percent, according to Reuters.
"Developing countries have received quite a tough blow. Our feet got wet, but our pants aren't wet yet," Vuori said.
The New York Times reported that the new tariffs do not apply to products that already have separate tariffs, such as steel and aluminium products, cars and car parts, as well as energy products and "certain minerals not available in the United States".
According to HS, the Research Institute of the Finnish Economy (Etla) previously estimated that 20–25 percent tariffs would reduce the EU's growth by 2.5–3.0 percent.
Evli Bank's Chief Strategist, Valtteri Ahti, describes the tariff level as exactly what the markets feared, with stock market share prices dropping immediately after the announcement.
Ahti told HS that Trump's "maximalist" approach is designed to speed up negotiations.
"I see this as an opening for negotiations. Ultimately, the tariffs will likely come down, depending on the outcome of the talks. The next round is what kind of counter-tariffs the EU and other countries will impose," Ahti said.
The new 10 percent baseline tariff starts on Saturday, with higher rates for some countries coming into effect the following Wednesday, according to a White House source.
Finland's wealthiest
Seven Finns were included in Forbes' annual list of the world’s wealthiest individuals published this week, reports Iltalehti.
The 2025 list features a total of 3,028 individuals, the highest number ever since its inception.
Elon Musk, majority owner of Tesla, topped the list with a net worth of 342 billion dollars. Fellow tech billionaires Mark Zuckerberg of Meta and Jeff Bezos of Amazon claimed the second and third spots.
Finland's wealthiest person is Antti Herlin, major shareholder of elevator and escalator manufacturer Kone, with an estimated fortune of 3.7 billion dollars. He ranks as the 979th richest person in the world.
The second richest Finn is Mika Anttonen, the majority owner of the St1 fuel company, with 2.2 billion dollars in assets.
In third place is Heikki Kyöstilä, founder and CEO of dental technology company Planmeca, with 2.1 billion dollars.
In addition to Antti Herlin, other members of the Herlin family — Ilkka, Ilona, and Heikki Herlin — also made the Forbes list of billionaires.
Completing Finland's billionaire club is Antti Aarnio-Wihuri, the majority owner of the industry and trade conglomerate Wihuri Group, with a fortune of 1.4 billion dollars.
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Booze-free bashes
May Day, or Vappu, in Finland is typically linked to boozy celebrations, pub crawls and student parties leading up to the big day. However, in Tampere, a rising sober movement is shifting the focus toward alcohol-free events, Aamulehti reports.
The Sober Club, a student group established a year ago at Tampere University of Applied Sciences (TAMK), is leading the charge. It organises alcohol-free events alongside traditional student gatherings, catering to students who prefer not to drink and those exploring sobriety.
"The organisation was founded in response to the growing interest in a sober lifestyle, said engineering student Maria Niemelä, Chair of the Sober Club.
According to Niemelä, tickets for alcohol-free and pet-friendly May Day events in Tampere sold out quickly, drawing hundreds of students.
Events include a party for pets, a sushi crawl, a mocktail workshop, a forest trip, a baking night and a jewellery-making workshop.
Niemelä told Aamulehti that over the past three years, the number of alcohol-free events for students has increased.
"I think it’s wonderful that there are hardly any student events anymore where you absolutely have to drink to participate," she said.
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