I regret to inform all the libertarians and the neo-cons, but the Trump tariffs are still working.
Wow! If you make it unaffordable to import from overseas then companies will start making new jobs for Americans, making everyone wealthier! Who could have seen that coming?
Sweden's Volvo Cars, owned by China's Geely, will increase its production of vehicles in the United States and probably produce an additional model there, following US President Donald's Trump's introduction of tariffs, its CEO told media Thursday ...
'We will have to increase the number of cars we build in the US, and surely move another model to that factory,' CEO Hakan Samuelsson told Bloomberg.
Samuelsson recently took back over the car manufacturing arm of Volvo on April 1 and this was one of his first moves. It's a response to Trump's 25% tariffs on cars manufactured outside of the US.
The details of what production they will be adding to US plants and how much they will invest are not out yet, but it is clear that Volvo thinks it's worth it to avoid Trump's tariffs to start ramping up production in America, adding to the cars already being produced in South Carolina.
Also, GM made a similar announcement today as well.
Add to that Ford, which is not raising prices like the doomers suggested.
They're cutting prices because they can compete with foreign-made cars now.
But the stocks are down! Oh no!
Guys, it'll be okay.
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