GM and Volvo denied US tariff exemption for Chinese-made SUVs
Despite both companies saying the exemptions would fund plants and operations in the US, they are now obliged to absorb the new 25% tariff
05 June 2019 - 18:33
Washington/Stockholm — The US has rejected separate requests from General Motors (GM) and Chinese-owned Volvo Cars for an exemption to a 25% US tariff on their Chinese-made SUV models.
GM, the largest US vehicle maker, and Sweden’s Volvo both said they were aware of the respective denials of their nearly year-old petitions. Both companies have not raised the sticker price to account for tariffs, which came into play last July...
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