Volvo CEO: The tariffs imposed by the EU on imported cars from the U.S. are unfair and should be reduced first.

【Text by Observer Network, Pan Yuchen; Editor by Gao Xin】According to Reuters on July 17, Volvo Cars CEO Hakan Samuelsson urged the EU to first cut the 10% tariff on cars imported from the United States, and said that the European automotive industry does not need protection measures against American automakers.

Samuelson had previously stated that the tariffs imposed by the EU on cars imported from the US are unfair. Before President Trump took office earlier this year, the US imposed a 2.5% tariff on cars produced in Europe, while the EU imposed a 10% tariff on cars imported from the US. He emphasized that if Europe supports free trade, it should set an example by lowering the tariffs.

Volvo Cars CEO Hakan Samuelsson, Reuters

Recently, US President Trump threatened to raise the tariff on EU car imports to 30% starting August 1, increasing pressure on the EU and the US to reach an agreement. For several months, the European Commission and representatives of the automotive industry have been negotiating with the US side to reduce the US tariff on European car imports, which is as high as 27.5%.

As most of the cars sold in the US by Volvo are imported from Europe, Volvo is one of the European automakers most affected by US tariffs. On July 16, Volvo announced that it would begin producing its best-selling hybrid model XC60 in the US by the end of 2026 to mitigate the tariffs.

Currently, Volvo's factory in South Carolina only produces the Polestar 3 and the all-electric EX90. At the same time, Volvo has also started to reduce its product line in the US.

Samuelson said that increasing production in the US is a measure that Volvo can control, while the tariff issue can only be expressed like others.

On the other hand, Volvo recently disclosed its financial results for the second quarter, with net sales of 122.896 billion Swedish kronor (approximately RMB 90.35 billion), higher than the market expectation of 122.06 billion Swedish kronor (approximately RMB 89.74 billion); adjusted operating profit was 13.48 billion Swedish kronor (approximately RMB 9.91 billion), which also exceeded analysts' estimates of 13.12 billion Swedish kronor (approximately RMB 9.65 billion).

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