Trump's new trade move: Tariffs are coming for imported trucks and buses

The statement, published on the White House website, emphasized that medium and heavy-duty vehicles are indispensable for national security in areas such as military logistics, disaster response, and critical infrastructure transportation.

The statement noted that the US was a leader in this field between 1950 and 1990, but the import rate increased as production shifted abroad, and that dependence on foreign suppliers increased in many parts such as engines, batteries, transmissions, and bus production.

The declaration stated that a 25 percent tariff will be applied to imported medium and heavy-duty vehicles and their parts, and a 10 percent tariff will be applied to buses, starting November 1.

The declaration, which also outlined the objectives of the tariffs, stated that the customs duties would strengthen supply chains, increase industrial resilience, expand the skilled workforce in the U.S., and increase the market share of medium and heavy-duty vehicles, their parts, and buses produced in the U.S.

The statement noted that for products imported from Canada and Mexico that qualify for preferential tariff treatment under the United States-Mexico-Canada Agreement (USMCA), these tariffs will only apply to components manufactured outside the United States.

3.75% CUSTOMS DUTY CUT

The proclamation signed by Trump also announced that tariffs will be cut by 3.75 percent of the total value of medium- and heavy-duty trucks assembled in the United States through 2030.

The statement noted that this cut would also apply to truck engine manufacturers, and that the period for automobile manufacturers to benefit from the same incentive rate has been extended to 2030.