Former NATO Secretary General Jens Stoltenberg became Norway’s new finance minister on Tuesday, the 4th of February, following a government reshuffle at a time when the Nordic country fears the potential impact of a transatlantic trade war, according to Politico and Reuters.
“I am very honoured to have been asked to help my country at this critical time. After careful consideration of the current challenges we face, I have decided to accept Prime Minister Støre’s request to take up the post of finance minister,” Stoltenberg, 65, told the press on Tuesday morning.
The appointment of the widely popular and respected Stoltenberg could benefit the struggling Labour Party in opinion polls ahead of parliamentary elections in September.
The Eurosceptic Centre Party quit the two-party coalition last week, leaving Prime Minister Jonas Gahr Støre’s centre-left Labour Party alone in government.
Stoltenberg will replace outgoing Finance Minister Trygve Slagsvold Vedum from the Centre Party. The Norwegian government also announced the appointment of Tore Onshuus Sandvik of the Labour Party as Defence Minister, replacing Bjørn Arild Gram.
“This team is ready to lead Norway in difficult times,” the Prime Minister told reporters outside the Royal Palace after the new government met with King Harald. “We will implement policies that mean something to people on a daily basis and (we) are aware of the instability in the world that affects Norway as a small country.”
Norway, which is not a member of the European Union (EU) and is home to 5.5 million people, fears that a trade war could damage its economy if Trump imposes tariffs on EU goods. Norway mainly exports oil, gas and fish.
Before becoming NATO chief, Stoltenberg served as Norway’s prime minister twice, from 2000 to 2001 and from 2005 to 2013. He also served as finance minister in the 1990s.
Stoltenberg led NATO as Secretary General for ten years, including during US President Donald Trump’s first term in office from 2017 to 2021, earning the title “Trump whisperer” for persuading the US President not to withdraw from the transatlantic military alliance.
Stoltenberg was due to become the head of Norway’s central bank in 2022, but did not take the job after then US President Joe Biden asked him to continue as NATO chief.
Stoltenberg will return as head of the Munich Security Conference after he leaves office, he added in a statement.