Volvo Worried About Possible Trade Wars

Speaking at the Automotive News European Congress held today, the CEO of Sweden-based automobile company Volvo, Hakan Samuelsson, said in his speech; He stated that they are uneasy about the tension between the United States of America and the European Union, that they have increased the number of vehicles they produce in the USA, and that they aim to get rid of the new taxes that may come with this method.

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In response to the request of US President Donald Trump, which aims to produce cars within the borders of the USA and to close the trade deficit accordingly, Samuelsson: “Coincidentally, we are doing just that. We will produce 150,000 cars in the USA and export half of it. We will sell the rest there. “I hope the US administration sees this and puts taxes on others instead of us,” he said.

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It is said that Volvo is working to get rid of not only the trade wars that may arise between the USA and the European Union, but also the trade wars that may arise between the USA and China, with the least damage. After the 27.5% customs duty was added to Chinese-made cars, Volvo is reportedly no longer bringing these vehicles into the US borders.

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