Industrials

Heavy Trucks: A Complex Market and Impact of New Tariffs

A new 25 percent tariff on imported heavy trucks took effect on Oct. 1.
Heavy Trucks: A Complex Market and Impact of New Tariffs
Freight trucks pass through customs before entering the United States at the Otay Mesa port of entry in San Diego, Calif. John Moore/Getty Images/File Photo
Panos Mourdoukoutas
|Updated:
0:00

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.
Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”