Words from Executive Director | Save The Date | Recent Events | Upcoming Events

Insights From Our Member: SMI | Insights From Our Members | Recommended Readings | Other Highlights

Since 1989 SACC-DC has offered a platform for developing U.S. – Swedish lucrative commercial ventures and professional opportunities through our network, business and social events. The SACC-DC Newsletter will help you stay on top of what’s happening in the Swedish-American business community and find the perfect opportunity to create new business connections in the greater Washington D.C. area and Mid-Atlantic region.

WORDS FROM THE EXECUTIVE DIRECTOR

SAVE THE DATE: UPCOMING FLAGSHIP EVENTS

The SACC-DC Annual Crayfish Reception is a festive evening featuring traditional Swedish crayfish, schnapps, singing, and valuable networking opportunities. This year’s Crayfish Reception will take place on September 9th and is hosted in partnership with Volvo Group at the House of Sweden. This celebration offers a true taste of Swedish culture, immersing guests in the beloved Scandinavian crayfish party tradition. Attendees include representatives from a wide range of companies, organizations, and young professionals.

The 37th Annual SACC-DC Open returns on October 16th to the scenic Whiskey Creek Golf Club. As one of SACC-DC’s flagship events, the tournament offers a full day of exceptional networking with leading companies from across the DMV area. Participants will enjoy a high-caliber golf experience, engaging activities, and exciting prizes. The day concludes with an exclusive dinner reception featuring distinguished speakers.

RECENT EVENTS

LEAVING THE U.S. - FINANCIAL PLANNING TIPS & TRAPS

On the 8th of May, SACC-DC and Cerity Partners hosted members and guests for an engaging evening at Say Cheese Café, centered on cross-border financial planning for globally mobile individuals and families.

Our speakers Andrew Fisher and Andrejs Pilajevs explored a broad range of practical topics - from tax considerations for U.S. citizens and green card holders to pre-move planning, international real estate, and estate planning best practices. Their real-world examples made even the most complex subjects approachable and easy to understand. Attendees received complimentary copies of Andrew’s book, The Cross-Border Family Wealth Guide, and he kindly stayed afterward to sign books and answer additional questions.

A heartfelt thank you to Andrew Fisher, Andrejs Pilajevs, Elizabeth Dawson, and Cerity Partners for making the evening both informative and inspiring!

Are you an international resident living in the U.S.? Even if you’re not planning to leave anytime soon, it’s helpful to understand what’s involved. Check out our latest article, where we break down four key financial considerations to keep in mind if you ever decide to move abroad.

Click the links below to learn more and explore the services offered by

Cerity Partners.

COMPANY VISIT:

THE WORLD BANK

On May 9th, our Young Professionals community had the privilege of visiting the World Bank to gain insights into its mission of creating a world free of poverty. With 189 member countries and operations in 140 locations, the World Bank is actively addressing global challenges. During the visit, we received a comprehensive overview of the five institutions that make up the World Bank Group and their unique roles. We also had the opportunity to tour the Shihata Conference Room and the Global Hall.

A sincere thank you to Amira El-Bidawi, Private Sector Development Specialist, and Martin Holmberg, Advisor to the Executive Director, for sharing their expertise and guiding us through the facility!

TRADE & SECURITY

We were pleased to host a successful event on Wednesday, May 14, at Say Cheese Café. The evening brought together members of the Swedish-American business community for a timely discussion on the intersection of trade and security, and how recent U.S. policy developments - such as tariffs and evolving trade frameworks - may reshape traditional transatlantic relationships.

The event opened with a lively networking reception featuring light fare and refreshments ahead of the keynote address by Mathias Hultgren, Economic Counselor at the Swedish Embassy. His remarks were followed by insightful commentary from Doug Campbell, Managing Director at Blue Star Strategies and former Deputy Staff Director of the House Foreign Affairs Committee, and Bill Greenwalt, Senior Fellow at the American Enterprise Institute. The discussion was further enriched by contributions from John Thomas and Justin Rubin, both senior policy advisors at Pillsbury Law, as well as Mike Andersson, Head of Strategic Partnerships and International Affairs at Saab, who each brought valuable perspectives on the intersection of trade, defense, and transatlantic cooperation.

The evening concluded with an engaging Q&A session moderated by SACC-DC President Jim Solyst, allowing attendees to further explore the implications of shifting trade policies in a dynamic geopolitical landscape. Thank you to all our speakers and attendees for contributing to a thoughtful and thought-provoking evening!

SACC-DC will soon be publishing an article related to trade and security, building on themes from this event. Keep an eye out for it in our upcoming communications!

UPCOMING EVENTS

Join SACC-DC for a special evening at the House of Sweden as we gather for our

final event before the summer break!

We’ll begin with an exclusive guided tour of Snow and Rain Shall Pass, an exhibition by Swedish photographer Karin Alfredsson. Her work captures rare and remote landscapes from northern Scandinavia, offering a glimpse into a world few have seen - learn more about the exhibition here.

Date: Monday, June 23

Time: 5:30 PM

Location: House of Sweden, Washington, DC

The tour will be led by Sweden’s Cultural Counselor to the United States, Stefan Hansen. Appointed in December 2024, Counselor Hansen plays a key role in promoting cultural exchange between Sweden and the U.S. Following the exhibition, the evening will continue on the beautiful terrace at the House of Sweden, where Counselor Hansen will be available to answer questions.

Join us for festive drinks as we toast to summer!

Coming up soon is our first flagship event of the year - an invitation-only symposium hosted by SACC-DC and the Norwegian Chamber of Commerce, in collaboration with the Embassies of Norway and Finland, taking place on June 11, 2025. The event will explore the entire lifecycle of these essential raw materials - from mining and processing to recycling - and will take place at the Royal Norwegian Embassy in Washington, DC. With geopolitical priorities and technological innovation aligning, the symposium will highlight the importance of U.S.-Nordic collaboration in securing critical mineral supply chains. Featuring public officials and leaders from top Nordic companies, the program will run from 12:45 PM to 3:00 PM, followed by a networking reception from 3:00 PM to 4:30 PM.

INSIGHTS FROM OUR MEMBER: SMI

As global dynamics shift and transatlantic collaboration becomes increasingly vital, new opportunities are emerging at the intersection of innovation, security, and sustainability. In this month’s Member Insight, Maria Bowie, Vice President at SMI, reflects on how Sweden and the United States are uniquely positioned to deepen their economic and industrial partnerships - from cutting-edge undersea defense technologies to AI-driven diagnostics and rare earth supply chains. 

What do you see as the main opportunities for strengthening transatlantic economic and industrial ties amid all the recent change on the world stage?

"Recent geopolitical shifts, especially Russia’s invasion of Ukraine and Sweden’s NATO accession, have made transatlantic cooperation more urgent than ever. Both nations benefit from each other’s strengths: Sweden’s innovative submarine technology sector comes to mind. In addition, its anti-submarine warfare, mine countermeasures, and underwater surveillance complement America’s world-class cybersecurity and advanced manufacturing systems."

She continued, "For example, Saab’s global partnerships, with U.S. firms like ThayerMahan, reflect the potential for additional cooperation in undersea technology, combining Swedish maritime innovation with American autonomous surveillance, propulsion, and AI capabilities."

"The U.S. defense industry offers cutting-edge solutions in AI-driven supply chain management, as exemplified by Govini’s Ark.ai platform. Govini uses advanced AI and data analytics to accelerate defense acquisition, optimize supply chains, and identify vulnerabilities and capabilities that are increasingly essential for Swedish defense and industry as they seek to modernize and secure their critical infrastructure. Meanwhile, digital trade and AI partnerships are thriving, with Swedish life science firms like Elekta, Sectra, and SAGA Diagnostics using AI to revolutionize diagnostics and drug development. Swedish and U.S. companies are actively partnering on AI, clean energy, and life sciences, with Sweden’s tech ecosystem now home to more than 500 climate tech companies and a growing roster of unicorns."

Are there particular areas of investment or partnership opportunities that you are tracking between the United States and Sweden? Public or private sector? Defense in particular?

"Absolutely, the private sector is buzzing!" Maria exclaimed.

"The Defense Cooperation Agreement (DCA) between the U.S. and Sweden, in force since August 2024, is a game-changer. It streamlines joint military coordination and planning, enabling a more predictable environment for joint defense procurement and research. This encourages U.S. and Swedish companies to invest in co-development of new technologies - such as AI-driven command systems, advanced sensors, and autonomous platforms - knowing there is a clear pathway for integration and export within the NATO framework. The DCA also signals a long-term commitment to shared security, reducing uncertainty for industry and fostering deeper transatlantic defense industrial ties."

She continued to explain that in a time of heightened focus on supply chain security and defense cooperation, it is more likely that collaboration on critical minerals and advanced materials could be pursued, to the advantage of both countries. Sweden’s Norra Kärr rare earth project, led by Leading Edge Materials, could play a key role in meeting demand for materials essential to defense and green technologies, thanks to its rich deposits of heavy rare earth elements. Meanwhile, U.S. firms such as USA Rare Earth, Energy Fuels, and Chemours are advancing domestic rare earth supply chains. Notably, USA Rare Earth’s Round Top Mountain deposit in Texas and its Stillwater, Oklahoma facility are driving the development of a robust rare earth magnet supply chain, highlighting how transatlantic cooperation can inspire parallel initiatives and strengthen national security.

These partnerships highlight the importance of both countries’ strengths and the value of proactive engagement in trade and policy advocacy.

INSIGHTS FROM OUR MEMBERS

Foley’s final installment in its series on Customs Enforcement and False Claims Act (FCA) risks underscores the escalating legal exposure multinational importers face under the Trump administration’s tariff regime. The Department of Justice is intensifying its use of the FCA to target importers who fail to correct known customs entry errors, disregard compliance obligations following Form 28 or 29 notices, or overlook supplier misconduct related to duty underpayments. Notably, importers are obligated to amend both current and prior unliquidated entries within a 300-day window upon discovering errors. While voluntary self-disclosures can mitigate penalties, inaction has led to substantial settlements, such as a recent $22 million case. Even companies not serving as the importer of record can be held liable if they ignore red flags indicating supplier fraud. In this heightened enforcement environment, proactive compliance measures - including robust internal controls, diligent supply chain monitoring, and thorough documentation - are essential to minimize FCA liability.

The article Legal Definitions of AI: Considerations and Common Threads, written by Pillsbury's Mia Rendar and Gabby Regard, explores how lawmakers and regulators across jurisdictions are attempting to define artificial intelligence and why those definitions matter. As governments race to regulate artificial intelligence, defining what AI actually is has become a critical legal issue. Pillsbury’s authors highlight that while most definitions focus on AI’s ability to mimic human intelligence, definitions vary widely across jurisdictions - from the EU’s broad approach in the AI Act to narrower proposals in the U.S. and Canada. These definitions influence everything from compliance obligations to the scope of liability and enforcement. The article emphasizes that companies using or developing AI should carefully track evolving legal language, as the precise wording may determine whether a product is subject to AI regulations or not.

In her article U.S. Administration Update, Karen A. Tramontano of Blue Star Strategies highlights how the global landscape is shifting as the U.S. steps back from its traditional leadership role. While the Trump Administration prioritizes disengagement - from strategic aid to multilateral diplomacy - other nations are forging ahead. France and Germany, for instance, recently signed a bilateral security pact including a European nuclear umbrella. Meanwhile, U.S. absence is notable in key international developments: Russia signaled openness to European-led negotiations, and the India-Pakistan ceasefire moved forward without U.S. involvement. As China expands its influence through financing and diplomacy, uncertainty clouds U.S. trade policy, stalling business confidence and consumer activity. The world is adapting - this time, without waiting for Washington.

RECOMMENDED READINGS

Sweden Launches New Award for Volunteer Projects Supporting Ukraine

The Swedish Government has just announced a new annual award to honor outstanding civilian efforts in support of Ukraine. One Swedish organization and one individual or group will be recognized each year for their extraordinary voluntary work - and provided with funding to continue it.

The initiative, administered by the Swedish Institute, is a powerful statement of solidarity. Winners will receive up to SEK 1.8 million (for organizations) and SEK 200,000 (for individuals or groups), reflecting Sweden’s strong and growing civilian and military support for Ukraine.

“This award is about recognizing drive, compassion, and perseverance,” said Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade. “All of Sweden stands behind Ukraine - and this includes the tireless work of volunteers, NGOs, municipalities, and businesses.”

The nomination period is now open, and the winners will be announced later this year.

Wallenberg Family Steps Up Succession Planning

The Wallenberg family, long seen as the cornerstone of Swedish industry, is now entering a pivotal phase in its history. As part of a carefully planned succession strategy, the first members of the sixth generation are being appointed to the boards of major listed companies in Sweden.

Jacob Wallenberg Jr, currently an executive at U.S. start-up Ramp, has been named to the board of EQT, while Fred Wallenberg, a manager at industrial firm Piab, will take on a non-executive director role at Investor AB - the family’s main investment vehicle. These appointments mark a symbolic and strategic handover from the fifth generation to the next.

As Jacob Wallenberg (Chairman of Investor AB and recently re-elected Chairman of Svenskt Näringsliv) told the Financial Times, “We are trying to set a platform for the next generation... Over time, we will disappear. We will mature into more overriding positions.”

With the Wallenbergs holding an estimated $700 billion in stakes across companies like Ericsson, Saab, and AstraZeneca, this transition is one of the most significant and closely followed succession events in European business today.

OTHER HIGHLIGHTS

News from SACC-USA and the Embassy

The Embassy of Sweden is proudly participating in WorldPride 2025 in Washington, DC, celebrating love, equality, and LGBTQI+ rights through a wide range of cultural and educational events. Highlights include rooftop film screenings of Crossing and Nova & Alice, special screenings at the AFI Silver Pride Film Festival, and a rooftop reception honoring WorldPride artists. The embassy is also contributing to the Human Rights Conference and co-hosting discussions on Nordic LGBTQI+ policies. The celebration culminates with Stockholm Underground at Dupont Underground and the Nordics for Equality Pride Parade march. Read more here.

Find more news from the Swedish Embassy and SACC-USA through the links below.

BUSINESS SERVICES PROVIDED BY SACC-DC

SACC-DC holds a unique position to provide members valuable connections with other member companies or small businesses, potentially resulting in new collaborations, clients, and partnerships. Read more about our B2B Matchmaking service and how to make a request here. Your company has the opportunity to be assisted by a Business Associate or a trainee with short-term projects aiming to increase your knowledge about specific markets. Read more about our Trade Services and how to make a request here.

INTERESTED IN JOINING THE SACC-DC COMMUNITY?

Visit our membership page to join as a new member, or renew your membership through the membership portal. SACC DC organizes many events throughout the year to give our members access to professional networking. We also tailor trade missions for Swedish companies interested in the Greater Washington, D.C. area. Whether an individual with a keen interest in or connection with Sweden living in D.C. or a company looking to establish new relationships, we can help you reach your next goal!

JOIN US ON SOCIAL MEDIA!