Volvo has applied to the Trump government for a 25% exemption from new tariffs on its medium-sized XC60 sports cars (SUVs) made in China, becoming the latest car company to seek tariff exemptions.
The company confirmed on Friday that it sought tariff exemptions from the U.S. Trade Representative's office for the best-selling car. Nearly 1/3 of Volvo's cars sold in the US in August were cars.
"A 25% tariff on medium-sized SUVs would cause huge economic losses," Volvo said in a letter to USTR on August 16. "American consumers will also bear the burden of 25% tariffs imposed on cars imported from China."

<>Volvo hopes that its Chinese SUV will receive a new US tariff exemption.

 

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