The Briefing Room

General Category => Economy/Business => Topic started by: ABX on July 19, 2018, 02:35:54 pm

Title: Trump's tariffs could derail Volvo Cars' production plans in the US
Post by: ABX on July 19, 2018, 02:35:54 pm

Another auto manufacturer having to pull production from the US due to tariffs.

Quote

The Swedish automaker Volvo's $1.1 billion investment plan in the U.S. could be jeopardized amid rising tensions in global trade, the CEO of Volvo Cars told CNBC Thursday, calling for a "de-escalation phase" in the rhetoric over tariffs.....

...."With our (Charleston) factory we are going to employ up to 4,000 people, half of those are planned to be building cars for export, so if these tariffs would in any way restrict the possibilities for us to export out of South Carolina, that would of course mean less employment in Charleston," he said.....

https://www.cnbc.com/2018/07/19/trumps-tariffs-could-derail-volvos-production-plans-ceo-warns.html (https://www.cnbc.com/2018/07/19/trumps-tariffs-could-derail-volvos-production-plans-ceo-warns.html)

Title: Re: Trump's tariffs could derail Volvo Cars' production plans in the US
Post by: Suppressed on July 19, 2018, 03:00:37 pm

Thanks, Obama.