US President Donald Trump signed a proclamation on Friday (17) to enact higher tariffs on trucks medium e heavy, parts e bus imported from November 1st.
The tariff for trucks and truck parts will be 25%; for buses, which includes school and public transport buses, the fee will be 10%.
Previously, Trump announced its intention to impose most of these tariffs in a post on Truth Social earlier this month.
Exceptions to the new rates will be granted to products originating from Mexico and the Canadaas long as they comply with the terms of the trade agreement known as USMCA, negotiated during Trump’s first term.
Senior government officials told reporters that any tariffs already agreed with other trading partners, such as the European Union and Japan, will be applied to truck and bus rates.
Trump’s order makes automakers eligible for a credit equal to 3.75% of the suggested retail price for vehicles assembled in the U.S. through 2030 to offset import tariffs on parts.
He also extended import adjustment compensation credit for U.S. engine production and truck production US medium and heavy.
(with information from Reuters)
