Reported 2 days ago
President Donald Trump has announced an extension of tariff relief for U.S. automakers, prolonging a rebate program for auto parts until 2030. This decision accompanies a new 25% import tax on medium and heavy-duty trucks starting November 1. The administration aims to support domestic manufacturing while addressing rising costs attributed to existing tariffs. The rebate, initially meant to expire in 2027, now includes trucks and engines and is set at 3.75% based on vehicle sale prices. These measures come as car prices reach record highs, with consumers facing increased expenses.
Source: YAHOO