Supposedly yes. Husqvarna built the model 1651 on that action and chambered it in the powerful .358 Norma magnum. That cartridge is not much different from the .375 Taylor - in fact the latter can be considered as a .358NM/375 wildcat. The bolt face and the feeding would have to be adapted f�r the Taylor magnum cartridge, if a standard 1640 action is being used.
Pete