Volvo CEO wants EU to cut 'unnecessary' auto tariffs to defuse Trump threat
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 17 2025
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Source: Reuters
Volvo CEO's Call for Tariff Reduction: Hakan Samuelsson, CEO of Volvo Cars, urged the EU to reduce its 10% tariff on American-made cars, arguing that European automakers do not require protection from U.S. competitors and advocating for free trade principles.
Impact of U.S. Tariffs on Volvo: With the threat of increased U.S. tariffs on European imports, Volvo plans to start U.S. production of its XC60 model by late 2026 to mitigate the impact, as it is significantly affected by existing tariffs due to its reliance on imported vehicles.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
