STOCKHOLM/DETROIT (Reuters) -Volvo Cars CEO Hakan Samuelsson said on Friday that its customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import one of its most affordable cars to the United States if levies increase. U.S. President Donald Trump on Friday said he was recommending a straight 50% tariff on goods from the European Union starting from June 1, saying that the EU has been hard to deal with on trade. Samuelsson 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.
European stocks tumble, bonds rally after Trump proposes 50% EU tariff
LONDON (Reuters) -European stocks tumbled, the euro gave back some gains, and euro zone government bond yields fell sharply on Friday after U.S. President Donald Trump said he is recommending a straight 50% tariff on goods from the European Union starting on June 1. Trump's remarks in a series of social media posts, which also targeted Apple, halted investors' expectations that the bulk of tariffs he announced in early April would be negotiated away, a view that had supported stock market gains in the past few weeks.
Chevron vs. Petrobras: Is Either Oil Giant Worth Holding Onto Now?
CVX and PBR face falling cash flow, rising debt and earnings pressure. Both stocks are now rated Strong Sell amid mounting macro and company-specific risks.
Good Vibes Shattered as Trump Revives Trade War, Sending Bitcoin Tumbling Below $109K
The president Friday morning threatened an imminent 50% tariff on all EU imports as well as a 25% levy on imported Apple iPhones.
Instant View: Markets fall as Trump recommends 50% tariff on EU, targets Apple
Trump threatened to impose a 25% tariff on Apple for any iPhones sold, but not manufactured, in the United States. Stock indexes in the U.S. and across Europe fell, although they pared earlier sharper losses.
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Are these 3 Top-Ranked Mutual Funds In Your Retirement Portfolio?
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U.S. Courting Asian Investors for $44 Billion Alaska LNG Project
The United States is actively pursuing investment from South Korea, Japan, and Taiwan for the $44 billion Alaska LNG project, with a key event scheduled for June 2 to further these efforts.
This is the surest way for the U.S. to reshape the domestic and global economy
Investing.com -- The most effective strategy for reshaping the U.S. and global economy is a combination of higher taxes and lower government spending, according to BCA Research in a note Friday.