The CEO of Volvo Cars, Håkan Samuelsson, stated on Friday that the brand’s customers will have to bear a large part of the cost increases related to the tariffs imposed by U.S. President Donald Trump. He made this statement to Reuters.
In remarks to “Reuters,” Håkan Samuelsson added that 50% tariffs will limit the ability to sell an electric car like the EX30 in the U.S.
It should be noted that U.S. President Donald Trump announced on Friday that he recommends 50% tariffs on products from the European Union, starting June 1. In a post on the social media platform “Truth Social,” Trump justifies the measure with the deadlock in trade negotiations between the U.S. and the European Union.
“Our negotiations with them are going nowhere! So, I am recommending a direct tariff of 50% on the European Union, starting June 1, 2025. There will be no tariff if the product is built or manufactured in the United States”, wrote Donald Trump.
The U.S. president reiterates the argument that “the European Union was formed with the main goal of taking advantage of the United States in trade”.
