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Senators Blast Norway's Divestment as Economic Warfare

9/6/2025

Summary

Story summary

Sen. Dave McCormick (R-Pa.) condemned Norway’s sovereign wealth fund for divesting from Caterpillar, labeling it “economic warfare.”
He called for the Trump administration to impose tariffs and sanctions on Norway.
McCormick highlighted concerns over politically motivated divestment affecting multiple American companies.
Sen. Lindsey Graham supported McCormick, viewing Norway's actions as an attack on a U.S. ally.
Analysts caution that Norway's move may impact other sovereign funds and strain economic relations.

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Story summary

Sen. Dave McCormick (R-Pa.) condemned Norway’s sovereign wealth fund for divesting from Caterpillar, labeling it “economic warfare.”
He called for the Trump administration to impose tariffs and sanctions on Norway.
McCormick highlighted concerns over politically motivated divestment affecting multiple American companies.
Sen. Lindsey Graham supported McCormick, viewing Norway's actions as an attack on a U.S. ally.
Analysts caution that Norway's move may impact other sovereign funds and strain economic relations.