From Bloomberg, “Trump Says US Tariffs on Heavy Truck Imports to Start Nov. 1”:
Trump’s announcement is tied to a probe launched in April by the Commerce Department into heavy truck imports. That investigation, conducted under Section 232 of the Trade Expansion Act, allows for the imposition of import taxes on goods deemed critical to national security.
The probe focused on medium- and heavy-duty trucks weighing more than 10,000 pounds as well as parts, with Commerce stating that a “small number” of foreign suppliers made up the bulk of U.S. imports due to “predatory trade practices.”
The duties threaten an industry already feeling impacts from tariffs on steel and aluminum as well as tighter environmental regulations. New levies on imports could raise prices on vehicles used in a variety of sectors, including shipping, construction and municipal services.
Here’s the recently released August data on heavy truck sales:
Note that the 12 month growth rate is close to rates usully associated with recessions (save in 2016.
