Volvo CEO warns: Tariff hikes will hit buyers’ wallet
Volvo has joined the conversation on U.S. tariffs, warning customers that they will have to bear the brunt of additional taxes. Trump's 50% tariff on the EU will come into effect from June 1, affecting Volvo's plans to sell the EV, EX30, in the U.S. market. However, the company is hopeful for a trade deal and plans to ramp up production at its South Carolina plant.