The US government has recently imposed excessive tariffs, one of its goals being to try to lure manufacturing back. However, many American media outlets, experts, and manufacturers have poured cold water on the White House's ambitious plan. US media reported that several well-known manufacturing companies in the country have already begun layoffs.

On local time on the 21st, Cardinal News Network in Virginia reported that Volvo Cars will lay off 250 to 350 people at its Dublin factory in Virginia.

Previously, Volvo Cars announced plans to cut jobs by 550 to 800 in the US due to market demand facing uncertainty caused by tariffs. The factories involved also include the Mack Trucks factory in Pennsylvania and the Hagerstown factory in Maryland.

Representative Timothy Herzog of the union at Volvo's Mack Trucks factory: Some employees found out they were fired even while still in training.

It was introduced that this round of layoffs by Volvo mainly involves the heavy truck production line. Since April when the US government imposed excessive tariffs, the US automotive manufacturing industry has faced cost pressures. Media analysis suggests that specific parts tariffs could increase the cost of producing a single vehicle by 12% to 15%, with orders for heavy trucks expected to decline by 18% year-over-year compared to 2024.

Earlier this month, one of the three major US auto giants, Stellantis, had already laid off 900 workers.

A new study suggests that car tariffs may lead to the largest drop in US car sales since the 2008 financial crisis.

Patrick Anderson, founder of the American Anderson Economic Group, warned that a decrease in sales could trigger layoffs in states like Illinois, Michigan, and Ohio, which are major automobile manufacturing centers, due to reduced production.

US media reporters: Employees to be laid off are still in their "probation period," meaning they have worked less than 90 days for the company. This batch of employees will not receive severance pay or additional benefits.

Rising expectations of an economic recession drive Americans to "turn to" second-hand stores.

In addition, the US retail sector has also been impacted by tariffs. Since April 2nd, except for Walmart, the stock prices of most US retailers have fallen significantly.

According to US media reports, while tariff policies have severely hit traditional retailers, the second-hand market is increasingly favored by American consumers.

American second-hand store customer Olivia Tes: Clothes are already expensive enough; now I might just stick to buying second-hand items. Especially considering the impact of tariffs.

Analysts said that in recent years, high inflation in the US has opened up the market for second-hand stores among young consumers; against the backdrop of the US economy facing a recession, second-hand stores have "double appeal."

Executive director of the American second-hand store Joy Klein: There are no goods stuck in shipping containers here. In our second-hand stores, all items are priced between $2 and $4 (approximately 15 to 30 RMB). I think more people are coming to second-hand stores than ever before.

(Source: CCTV News)

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