Trump announces 25 percent tariffs on medium and heavy imported trucks
Briefly

Trump announces 25 percent tariffs on medium and heavy imported trucks
"Under trade deals reached with Japan and the European Union, the US has agreed to 15 percent tariffs on light-duty vehicles, but it is not clear if that rate will be set for larger vehicles. The Trump administration has also allowed producers to deduct the value of US components from tariffs paid on light-duty vehicles assembled in Canada and Mexico."
"Larger vehicles include trucks for delivery, garbage pickup, and public utilities; buses for transit, shuttles, and schools; tractor-trailer trucks; semitrucks; and heavy-duty vocational vehicles. The US Chamber of Commerce earlier urged the US Commerce Department not to impose new truck tariffs, noting the top five import sources are Mexico, Canada, Japan, Germany, and Finland, all of which are allies or close partners of the United States posing no threat to US national security."
United States will impose a 25 percent tariff on all medium- and heavy-duty trucks imported into the country starting November 1. The move follows earlier indications that heavy truck imports would face duties on October 1 on national security grounds to protect manufacturers from unfair outside competition and to benefit companies such as Paccar-owned Peterbilt and Kenworth and Daimler Truck-owned Freightliner. Larger vehicles include delivery trucks, garbage pickup and public utility vehicles, transit, shuttle and school buses, tractor-trailer trucks, semitrucks, and heavy-duty vocational vehicles. The US Chamber of Commerce urged the Commerce Department not to impose new truck tariffs, noting top import sources are allies.
Read at www.aljazeera.com
Unable to calculate read time
[
|
]