Journalism of Courage
US President Donald Trump on Friday signed orders approving significant tariff relief for US auto and engine production and setting new 25 per cent tariffs on imported medium- and heavy-duty trucks and parts starting November 1.
Trump is also setting a 10 per cent tariff on imported buses.
Trump’s order makes automakers eligible for a credit equal to 3.75 per cent of the suggested retail price for US assembled vehicles through 2030 to offset imports tariffs on parts.
He is also extending the import adjustment offset credit for US engine production and for US medium- and heavy-duty truck production.
