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Volvo CEO 'Worried' US, Europe May Start Trade War

Credit: Wochit Business
Published on May 25, 2019 - Duration: 00:48s

Volvo CEO 'Worried' US, Europe May Start Trade War

President Donald Trump's decision last week to delay imposing tariffs on the European Union's auto industry comes as a welcome relief to automakers.

However, AutoNews reports the CEO of Volvo Cars says the potential of a trade war between the two global power players is "worrying." In February, Volvo CEO Hakan Samuelsson cited the ongoing trade war between the U.S. and China as one reason why Volvo's operating profit margin dipped to 5.6 percent last year from 6.7 percent in 2017.

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Volvo CEO 'Worried' US, Europe May Start Trade War

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