The US applies a 25% customs duty on imported trucks.

25% Tax on Trucks Imported from the USA

US President Donald Trump announced on his Truth Social account that, starting from November 1, 2023, a 25% customs duty will be applied to all medium and heavy-duty trucks coming to the USA from other countries. This decision will directly affect Turkish and other foreign truck manufacturers and aims to protect domestic industry.

Goal: Protecting Domestic Production

Trump previously stated in a post on September 25, 2023, that the start date of this tariff had been set for October 1, 2023, but later pushed the date back to November 1, 2023. The President emphasized that these taxes were imposed to protect large truck manufacturers in the USA from unfair foreign competition. According to the statements, the tariff will apply especially to large trucks coming from Europe and Asia.

Global Market Effects

This new tax implementation seems likely to spark discussions among truck manufacturers worldwide. For instance, brands like Mercedes-Benz and Volvo may see their competitiveness in the US market affected. This situation could lead to higher costs being passed on to consumers. Domestic manufacturers, on the other hand, may benefit from a healthier competitive environment thanks to these taxes.

Developments Expected Soon

The response of truck manufacturers to this new tax regulation is eagerly awaited. If these financial barriers prove successful, it could provide significant support for the growth of the USA's own industry. However, potential price increases for consumers should be taken into consideration.