Since Saturday, October 31, the United States imposed customs duties on trucks as part of President Donald Trump’s all-out protectionist offensive, although accompanied by exemptions.
Imported trucks are now hit with additional customs duties of 25%. A new surcharge is also imposed on buses and coaches, of 10%.
Since his return to power in January, Donald Trump has implemented a minimum surcharge of at least 10% on most imported goods, as well as specific customs duties on sectors considered strategic (steel, aluminum, automobiles, copper, furniture, lumber, films). Heavy vehicles and coaches are now added to this list.
The government’s idea is to promote national industry, reduce the country’s colossal trade deficit, generate new public income, but also negotiate with the main producers a privileged access for American products, in exchange for a customs discount.
Tax parts manufactured outside the United States
The road transport lobby (American Trucking Association), which brings together more than 37,000 companies, had asked the Government to exempt these customs duties.
However, the new taxes will not apply exclusively to trucks from Canada and Mexico, as long as their production meets the criteria provided for in the free trade agreement between the three countries (Aceum).
For the vehicles in question, only parts not made in the United States will ultimately be subject to a 25% tax. But they remain exempt for the moment, while the Ministry of Commerce determines how to implement this measure. Most trucks imported into the United States come from its immediate neighbors, experts say.
On the other hand, for coaches and buses, the 10% will be applied entirely to vehicles coming from the two neighboring countries, whether or not they are within the framework of Aceum.
Source: BFM TV
