Volvo and Chinese owner Geely had plans to extend their trade with the USA. Photo credit – Pixabay

Volvo boss ‘very disturbed’ by Trump tariffs

Hakan Samuelsson, the CEO of Volvo, has spoken candidly about US President Donald Trump’s plans to increase tariffs on a variety of imports, including cars.

Speaking to the Financial Times, Mr Samuelsson said:

”It is very disturbing and worrying. If we would have trade restrictions and tariffs we would have a totally different economy. We just have to hope that it will not happen.”

Volvo cars of Sweden is owned by Chinese company Geely, and together the two companies have plans to extend their trade with the USA.

That’s because pioneering Chinese auto brand Lynk & CO, which specialises in SUVs, could launch in the US market.

That’s according to Volvo, who had already planned to manufacture a Lynk & Co SUV in the Belgian city of Ghent.

Introducing the innovative Lynk brand to Europe will help to supply the growing demand for SUVs in Europe – a category of vehicle which is already tremendously popular in China.

SUVs are already popular in the United States of America, so the demand for the vehicles there is already proven.

However, Volvo have not yet given a timeline for the potential entry of Lynk into the US market, and it’s not yet clear if the tariff situation will delay progress.