A new 25 percent tariff on imported heavy trucks took effect on Oct. 1. It is expected to benefit domestic manufacturers while putting pressure on foreign producers and freight companies. However, given the complexity of the industry, assessing the full impact of the tariff could be challenging.
President Donald Trump made the announcement in a Sept. 25 Truth Social post, emphasizing that the purpose of the measure was to protect domestic manufacturers from “unfair” foreign competition and support truckers for both economic and national security reasons.
“Therefore, our Great Large Truck Company Manufacturers, such as Peterbilt, Kenworth, Freightliner, Mack Trucks, and others, will be protected from the onslaught of outside interruptions,” the president wrote….