Marketing

Tariffs will cause car price hikes says Volvo

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May 27, 2025

Car maker Volvo said car prices will increase due to the tariffs imposed by President Trump.

CEO Hakan Samuelsson made the announcement Friday, according to a Reuters report at the New York Post, stating customers would be paying a large part of the tariff cost and that importing its most affordable cars to the U.S. may become impossible.

The news comes on the heels of President Donald Trump telling Apple it faces a 25% tariff for iPhones sold but not manufactured in the U.S.

Apple's iPhones are made in Asia, and the 25% tariff could be higher as Trump said "at least 25%," according to a New York Post report.