Trump Extends Tariff Relief for US Automakers, Imposes 25% Duty on Truck Imports

US President Donald Trump signed a long-term order extending tariff relief for American automakers until 2030 and imposed 25% tariffs on imported trucks and related parts. The move aims to encourage domestic vehicle production, particularly Class 3 to Class 8 heavy trucks, while cushioning the auto industry from past tariff costs. A 10% duty on buses was also introduced, impacting international manufacturers, especially those in Mexico.

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Trump Extends Tariff Relief for US Automakers, Imposes 25% Duty on Truck Imports
World • 68 days ago • 1699 views

Trump Extends Tariff Relief for US Automakers, Imposes 25% Duty on Truck Imports

IN SHORTUS President Donald Trump signed a long-term order extending tariff relief for American automakers until 2030 and imposed 25% tariffs on imported trucks and related parts. The move aims to encourage domestic vehicle production, particularly Class 3 to Class 8 heavy trucks, while cushioning the auto industry from past tariff costs. A 10% duty on buses was also introduced, impacting international manufacturers, especially those in Mexico.

TL;DR

  • Trump announced 25% tariffs on imported trucks and 10% on buses from November 1.
  • Extends a 3.75% import credit for US-made vehicles and parts until 2030.
  • The measure supports domestic auto manufacturing by offsetting import costs.
  • The initiative aims to reclaim market share from Mexico and other import-heavy nations.
  • GM and Ford expect tariff-related costs of USD 5B and USD 3B respectively.
  • The credit expansion incentivizes shifting production to US soil.
  • Industry experts foresee trade tensions with allies but applaud domestic stimulus.
  • Ford CEO Jim Farley called it a “necessary correction” to previous import imbalances.

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