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Volvo Cars CEO says its customers must pay for rising tariffs

Volvo Cars' CEO Hakan Samuelsson portrayed at the Volvo Showroom, as Volvo Cars was listed on the Nasdaq stock exchange, in Stockholm

Volvo Cars CEO Hakan Samuelsson.

Volvo Cars CEO Hakan Samuelsson said on Friday its customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import one of its most affordable cars to the United States if levies increase.

President Donald Trump on Friday said he was recommending a straight 50% tariff on goods from the European Union starting from June 1, saying that the EU has been hard to deal with on trade.





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