phonlamai / Depositphotos.com
WASHINGTON, April 2 (Reuters) – U.S. President Donald Trump’s administration on Wednesday confirmed that his 25% global car and truck tariffs will take effect as scheduled on Thursday and that duties on automotive parts imports will be launched on May 3.
In a Federal Register notice that opens a new tab adding details to Trump’s auto tariff proclamation issued last week, the White House directed the Commerce Department to establish a process within 90 days for adding more parts to the list, including at the request of domestic producers.
The 25% automobile tariffs are due to take effect at 12:01 a.m. EDT on Thursday, with the 25% tariffs on auto parts due to take effect at 12:01 a.m. EDT on May 3, according to the Federal Register.
The parts list currently includes dozens of tariff codes, including engines, transmissions, powertrains, and electrical components, as well as other parts such as brake hoses, but domestic producers will be able to request additions to the list, the notice said. The notice said that for vehicles qualifying under the U.S.-Mexico-Canada Agreement’s rules of origin, importers can pay the 25% duty on only the non-U.S. content of the order.
Comments