Volvo IPO reportedly delayed over trade war fears

Chinese auto manufacturer Geely, which acquired Volvo in 2010, will delay its plans to take the Swedish car company public over fears of a global trade war, reports the FT.

The big picture: Volvo has already moved production of its XC60 sports utility vehicles for the U.S. market from China to Sweden to avoid tariffs. But with President Trump threatening to slap a 25% tax on EU auto imports amid further escalation with China, Geely was concerned that investors would see the carmaker's stock drop after its IPO — due to be the largest on the Swedish stock market since 2000.