US Edition
Volvo CEO wants EU to cut 'unnecessary' auto tariffs to defuse Trump threat
EUROPEAN UNION, JUL 17 – Volvo aims to cut EU tariffs on U.S. cars to prompt reciprocal tariff relief from the U.S. and plans U.S. production of its top-selling XC60 hybrid SUV by 2027.
- Amid looming U.S. duties, Samuelsson told Reuters that President Trump threatened to raise tariffs on EU auto imports to 30% from August 1.
- Controlled by China’s Geely, Volvo Cars is highly exposed to U.S. tariffs, as the Trump administration imposed new 25% levies and the company posted a $1.2 billion impairment, triggering a 10 billion crown loss.
- On July 16, the automaker said it will add its XC60 midsize SUV to its only U.S. plant, where production of two hybrid versions is set for late 2026 despite underused capacity.
- The move is expected to secure local jobs at the Charleston plant, Samuelsson said, noting the move follows 125 spring layoffs from a 2,500 workers site.
- Amid unfolding trade talks, Brussels and auto industry representatives have lobbied Washington to cut its 27.5% tariff on European cars, recalling the 2.5% vs 10% disparity that Samuelsson criticized.
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16 Articles
Volvo CEO urges EU to slash its tariffs on US vehicles: ‘Absolutely unnecessary’
Volvo CEO Hakan Samuelsson on Thursday urged the European Union to slash its auto tariffs on the US in an attempt to sway President Trump to lower his own hefty duties on foreign vehicles.
·New York, United States
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Volvo CEO calls on EU to eliminate unnecessary tariffs on US vehicles to reduce risk of Trump retaliation.
Coverage Details
Total News Sources16
Leaning Left3Leaning Right4Center4Last UpdatedBias Distribution36% Center, 36% Right
Bias Distribution
- 36% of the sources are Center, 36% of the sources lean Right
36% Right
L 27%
C 36%
R 36%
Factuality
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