Trump's trade war has forced one of Europe's most famous automakers to delay a $30 billion IPO :
Volvo, the Swedish automaker, has reportedly had its initial public offering (IPO) plans delayed by its parent company as a result of uncertainty surrounding US President Donald Trump's trade war. The Financial Times reports on Monday that Geely, the Chinese auto giant which owns Volvo, has paused plans for an IPO that valued Volvo at $30 billion because Geely is worried US President Donald Trump's trade war could hurt its valuation. The delay to Volvo's IPO comes as Trump's trade war with China threatens to escalate. Speaking with reporters on Air Force One, Trump said long-threatened tariffs on $200 billion worth of Chinese goods would "take place very soon", with more on the way.
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