00:00United States President Donald Trump announces that all medium and heavy-duty trucks imported into the country will face a 25% tariff starting on the 1st of November.
00:11The move marks a major escalation in the administration's efforts to protect American manufacturers from foreign competition.
00:21Last month, Trump said new duties on heavy truck imports would take effect from the 1st of October, citing national security concerns.
00:30He explained that the tariffs were designed to shield U.S. companies from unfair trade practices and to strengthen domestic industry.
00:37Currently under existing trade agreements with Japan and the European Union, the U.S. imposes a 50% tariff on light-duty vehicles.
00:45However, it remains unclear whether that rate will apply to larger models.
00:50The Trump administration also allows manufacturers to deduct the value of U.S. mid-components from tariffs on light-duty vehicles assembled in Canada and Mexico.
01:00The new measure will cover a wide range of large vehicles, including delivery trucks, garbage trucks, public utility vehicles, buses, tractor trailers, semi-trucks and heavy-duty vocational vehicles.
01:14The U.S. Chamber of Commerce has previously urged the Commerce Department not to move forward with additional truck tariffs.
01:22It warned that the main sources of these imports, Mexico, Canada, Japan, Germany and Finland, are close allies and partners that pose no security threat to the U.S.
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