US President Donald Trump has signed a decree introducing 25% tariffs on imports of medium and heavy-duty trucks, and 10% tariffs on imports of buses. This is reported by UNN with reference to the White House.
Details
"President Donald Trump signed a proclamation citing Section 232 of the Trade Expansion Act of 1962 to impose tariffs on imports of medium and heavy-duty trucks and parts, as well as buses, to support American industry and protect national security," the decree states.
It is noted that a 25% tariff is introduced on imports of medium and heavy-duty trucks and their parts. Medium and heavy-duty trucks include Class 3-8 vehicles, such as large pickups, cargo trucks, dump trucks, and tractors for eighteen-wheelers.
Tariffs on medium and heavy-duty truck parts will apply to essential parts, including engines, transmissions, tires, and chassis.
"The proclamation establishes a 10% tariff on imports of buses, including school buses, transit buses, and tour buses," the decree states.
Recall
In late September, US President Donald Trump announced the introduction of new tariffs on imports of wood and wood products, including lumber (10%) and kitchen cabinets and upholstered furniture (25%). These measures could lead to an increase in housing and furniture prices, as well as affect domestic industry and exports.