US President Donald Trump signed orders providing significant tariff exemptions for US auto and engine production and imposing new 25 percent tariffs on imported medium- and heavy-duty trucks and parts, effective November 1.
Trump also imposed a 10 percent tariff on imported buses, reports Al-Jarida daily.
Trump’s order allows automakers to receive a credit equal to 3.75 percent of the suggested retail price of vehicles assembled in the United States through 2030 to offset tariffs on parts.
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