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Key Changes to U.S. Auto Tariffs and Credits

The Trump administration has announced a new set of trade orders affecting the automotive industry. Here’s a breakdown of the key changes:

New Tariffs on Imports:

A 25% tariff on imported medium- and heavy-duty trucks (Class 3-8) and their parts, effective November 1.

 A 10% tariff on imported buses.

 Justified on national security grounds, these aim to boost U.S. production.

Extended Relief for Domestic Makers:

The 3.75% tax credit for U.S.-assembled vehicles is extended through 2030.

 The credit is now expanded to cover domestic engine manufacturing and more imported parts.

Winners and Losers:

Benefiting: U.S. truck manufacturers like Peterbilt and Freightliner. Major automakers (GM, Ford, Toyota, etc.) get relief from part tariffs.

Impacted: Key trade partners, especially Mexico, the top exporter of heavy trucks to the U.S. The U.S. Chamber of Commerce opposes the tariffs.

Broader Context: This follows earlier tariffs that cost companies like GM and Ford billions, and comes after recent deals to lower tariffs with other allies like Japan and the E.U.

Compiled By: Target Blog News Media

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