Volvo Cars CEO says customers must pay for rising tariffs

STOCKHOLM (Reuters) -Volvo Cars CEO Hakan Samuelsson said on Friday that customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import the smallest cars in the company's lineup to the United States. U.S. President Donald Trump on Friday said he was recommending a straight 50% tariff on goods from the European Union starting June 1, saying the EU has been hard to deal with on trade. Samuelsson in an interview told Reuters that a 50% tariff would limit the ability of Volvo Cars to sell its Belgium-made EX30 electric vehicle in the United States.

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