Swedish firms face backlash over Trump inauguration donations
Swedish companies Ericsson and Spotify made significant contributions to Donald Trump's inaugural fund, sparking controversy among employees and in the Swedish media. It is worth noting that similar actions were taken by American tech giants.
Ericsson, the Swedish telecommunications firm, contributed £395,000 to the inaugural fund of U.S. President Donald Trump. In a message to employees, CEO Börje Ekholm explained that the decision was linked to the company’s increasing role in developing secure networks, highlighting its importance to the United States' national security infrastructure, according to reporting by Dagens Industri.
However, the donation was met with internal criticism at Ericsson. The company's code of ethics prohibits financing political parties or individual politicians. Media reports suggest that supporting Trump has sparked controversy, especially since the company usually avoids engaging in political matters.
Mysterious donation from Spotify
The Swedish streaming service Spotify contributed £119,000 to the U.S. president's inauguration. The amount of this donation was initially kept secret. In a statement, the company explained that the contribution was aimed at supporting Spotify's expansion in Washington.
This aligns with the work we do in other capitals around the world, promoting our political ideas regardless of who is in power, the statement read.
Support from global tech giants
Ericsson and Spotify are not the only companies that supported Trump's inaugural fund. American and international tech corporations such as Amazon, Microsoft, Google, Uber, and Meta (Facebook) contributed £790,000.
The media remind us that during previous presidents' inaugurations, these companies contributed less or did not contribute at all. Current actions may indicate attempts to adapt to the new administration and build favourable business relationships.
Swedish and Danish companies have a strong presence in the U.S. market, and the sale of goods and services to the USA constitutes a significant part of these countries' exports. In light of Trump's announcements of potential tariffs, regional companies are taking steps to protect their interests in the American market.
