Economic news

Volvo worried about probable U.S. taxes on imported goods

Volvo Cars would sustain a loss if the U.S. puts into effect import taxes, even as the car maker is going to hire up to 4,000 hands for a new factory in South Carolina.

The concerns of Swedish brand Volvo are connected with trade limitation such as the border control tax offered by U.S. President Donald Trump.

According to company representative, all that extra money could be transfered towards the list price, and the consumer would be the loser in the end.

At the same time Volvo plans to open its $500 million South Carolina plant in late 2018, which will employ 2,000 workers primarily and 4,000 in length of time.


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