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Volvo CEO Urges EU to Cut US Car Tariffs

7/18/2025

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Summary

Story summary

Volvo CEO Hakan Samuelsson called for reduced EU tariffs on US car imports to boost trade.
The company currently faces a 27.5% tariff on US imports and will produce the XC60 in South Carolina by late 2026.
In Q2 2025, Volvo reported a $1 billion loss, primarily due to tariffs and delays.
To address financial challenges, Volvo is implementing cost-cutting measures and streamlining its product lineup.

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Story summary

Volvo CEO Hakan Samuelsson called for reduced EU tariffs on US car imports to boost trade.
The company currently faces a 27.5% tariff on US imports and will produce the XC60 in South Carolina by late 2026.
In Q2 2025, Volvo reported a $1 billion loss, primarily due to tariffs and delays.
To address financial challenges, Volvo is implementing cost-cutting measures and streamlining its product lineup.