NATO's former Secretary General Jens Stoltenberg is set to become Norway's next finance minister on Tuesday, the country's finance ministry confirmed to CNBC.

Former NATO chief Jens Stoltenberg, who became Norway's new finance minister on Tuesday, said engaging with the Trump administration on trade was key to avoiding tariffs as Europe braces for a potential transatlantic trade war.

General Jens Stoltenberg has returned to government in his native Norway as finance minister, months before a national election.