25% Customs Duty Application on Truck Imports from the USA

25% Customs Duty on Trucks Imported from the USA

US President Donald Trump announced a significant change in trade policy through a post on the social media platform Truth Social. Trump stated that starting from November 1, 2023, all medium and heavy-duty trucks imported from abroad to the US will be subject to a 25% customs duty. He emphasized that this measure aims to protect local truck manufacturers against competition from international markets.

Objective: Support Domestic Production

In his statement on September 25, 2023, Trump initially mentioned that the 25% customs duty would come into effect on October 1. However, he later updated this date to November 1. It has been pointed out that this decision is intended to protect large US truck manufacturing companies from unfair foreign competition. In this context, heavy trucks produced in other parts of the world may find it more challenging to compete in the American market.

Reactions from Truck Manufacturers

This new customs duty is expected to have a positive impact on truck manufacturers in the US. In particular, major brands and factories such as Freightliner, Peterbilt, and Kenworth may seize the opportunity to increase domestic production and create employment. However, importing firms and international manufacturers have expressed concerns that they may struggle to absorb the costs associated with this change.

In conclusion, Trump's trade policy aims to strengthen local production and balance imports. Developments in the truck sector may create significant reverberations in the markets and lead investors to reassess their strategies.