Volvo CEO Hakan Samuelsson urged the European Union to slash its auto tariffs on the US — an apparent bid to sway President Trump to lower his own hefty duties on foreign vehicles.
The automaker, which is majority-owned by China’s Geely Holding, currently faces a steep 27.5% tariff on its imports.
The EU, meanwhile, has a 10% tariff on American-made cars.
Volvo CEO Hakan Samuelsson urged the EU to slash its auto tariffs on the US. via REUTERS
“If Europe is for free trade, we should be the ones showing the way and going down to very low tariffs first,” Samuelsson told Reuters during an interview Thursday.
“I think it’s absolutely unnecessary, the European car industry definitely does not need to have any protection from American auto builders,” he told Reuters on Thursday.
Trump has touted the auto tariffs as a success, arguing that they have incentivized manufacturers to