ALBAWABA – Volvo, the Swedish multinational manufacturer of luxury vehicles, has announced the layoff of approximately 800 jobs amid the ongoing tariff war between China and the United States.
Volvo cuts jobs post tariff war
The famous company is planning to lay off about 800 employees in the United States amid the ongoing tariff war between China and the US. According to sources, the layoffs will take place at three sites across the country and are expected to occur in the coming months.
Notably, The United States (US) President, Donald Trump, previously announced the impose of new tariffs that significantly impacted China with an additional 50% total of tariff, bringing the overall total to 145%.
Volvo informed its employees that between 550 and 800 jobs will be cut. (Shuttesrtock)
This decision immediately affected China's economy and its demand for oil imports. In response, China announced a 125% tariff on American products and goods.
Trump’s recent tariffs are fueling a global economic conflict, contributing to recession, inflation, and reduced oil demand in China, the US, and worldwide.
The company informed its employees that between 550 and 800 jobs will be cut at the Mack Trucks factory in Macungie, Pennsylvania, as well as at two Volvo facilities located in Dublin, Virginia, and Hagerstown, Maryland.
It is worth noting that the company currently employs over 20,000 people in North America.
