The Globe and Mail reports in its Saturday edition that U.S. President Donald Trump signed a proclamation Friday slapping a 25-per-cent tariff on imported medium- and heavy-duty trucks beginning Nov. 1, with a carve-out for vehicles traded under the Canada-U.S.-Mexico Agreement.
A Canadian Press dispatch to The Globe says trucks compliant with the trade agreement, better known as CUSMA, will be tariffed only on their non-American parts.
The latest levies will not hit auto parts that are compliant under the North American trade pact for now. A fact sheet from the White House said that exemption will be in place until Commerce Secretary Howard Lutnick, in consultation with U.S. Customs and Border Protection, establishes a process to apply tariffs to the non-U.S. content of the parts.
A 10-per-cent tariff will be placed on buses and motorcoaches.
The administration also included a tariff discount for companies that produce and sell completed automobiles in the United States, a move that intends to offset the impact of duties on imported parts.
The latest truck tariffs -- which will hit semitrailers and big pickup trucks -- mirror the levies he had already slapped on smaller automobiles earlier this year.
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