News about US tariffs: events, facts and developments on tafs uz.
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Volvo Cars reported a net loss of SEK 5.7 billion in the third quarter amid US tariffs and competition in China. The company announced an additional SEK 5 billion cost-saving programme and the elimination of about 2,500 jobs, of which around 2,000 in Sweden. The company's shares on the Stockholm stock exchange fell by more than 25% on Friday.
Javlon TursunovVietnam and four European countries — Iceland, Liechtenstein, Norway and Switzerland, members of EFTA — signed a free trade agreement in Hanoi. The deal eliminates or reduces tariffs on industrial, fishery and agricultural goods. Negotiations began in 2012 and resumed last year after a pause since 2018. Experts link the agreement to the desire to diversify trade amid US tariffs.
Dilnoza RahimovaCanadian Industry Minister Mélanie Joly said that the American steelmaker Cleveland-Cliffs could be forced to sell its Canadian assets if it cuts up to 500 employees at Stelco. Ottawa cites job-preservation commitments made when Stelco was purchased in 2024 under the Investment Canada Act. Cleveland-Cliffs CEO Lorenzo Goncalves called the government's actions 'bullying' and attributed the layoffs to Trump administration tariffs.
Dilnoza Rahimova
