TRUMP IMPOSES NEW 25% LARGE TRUCK TARIFF BY NOV 1

President Donald Trump said  that all medium- and heavy-duty trucks imported into the United States will face a 25% tariff rate starting November 1.

Last month, Trump had said heavy truck imports would face new duties on Oct. 1 on national security grounds, saying the new tariffs were to protect manufacturers from “unfair outside competition” and that the move would benefit companies such as Paccar-owned Peterbilt and Kenworth, and Daimler Truck-owned Freightliner.

Reuters reports that under trade deals reached with Japan and the European Union, the United States has agreed to 15% tariffs on light-duty vehicles, but it is not clear if they will face that rate for larger vehicles.

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