President Trump has announced new tariffs of 25% on imported trucks and 10% on buses, significantly increasing import duties on foreign vehicles in the United States.
- On Friday, Donald Trump signed a proclamation imposing a 25% Tariff on imported trucks, including big pickups and long-haul semis, effective November 1.
- The new Tariff increases duties on virtually all vehicles not made in the United States, impacting the automotive market and trade relationships.
- Additionally, a 10% Tariff on imported buses will take effect, raising costs for transportation providers and potentially affecting prices for consumers.
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These tariffs reflect ongoing trade tensions, particularly with manufacturers in Mexico, and could lead to higher prices for consumers while reshaping the competitive landscape for domestic vehicle production.