Volvo's CEO Hopes Vehicle Tariffs are Wiped Out
June 21, 2018—The head of at least one major automaker is backing the notion of total elimination of auto tariffs, USA Today reports.
Volvo CEO Håkan Samuelsson told USA Today in an interview Wednesday that he supports a policy of no tariffs on vehicles between the U.S. and Europe or China. Volvo’s stance on the matter has global impact—it’s a Swedish brand owned by a Chinese company that is preparing to open its first U.S. plant this fall.
Meanwhile, German automakers BMW, Volkswagen and Mercedes maker Daimler are ready to support ending all car tariffs between Europe and the U.S., The Wall Street Journal reported Wednesday.
Samuelsson's comments come amid concerns of a trade war as President Donald Trump threatens increased tariffs on imported vehicles, a development that has set off alarms in Europe and China.