Trump approves tariff relief for US auto production and issues new tariffs on trucks

US President Donald Trump signed executive orders on Friday approving significant tariff relief for domestic auto and engine production and establishing new 25% tariffs on imported medium- and large-sized trucks and parts starting November 1.
Trump is also imposing a 10% tariff on imported buses.
Trump's executive order makes automakers eligible for a credit equal to 3.75 percent of the suggested retail price for U.S.-assembled vehicles through 2030 to offset import tariffs on parts.
He is also extending the import adjustment offset credit for engine production and for medium- and heavy-duty truck production in the U.S.
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