President Trump to implement 25% tariff on medium and heavy-duty trucks
Ohio - President Donald Trump has announced that he will implement a 25% tariff on heavy and medium-duty trucks, starting Nov. 1.
Jeremy Kerola, Vice President of Uniserve LLC, a Metal processing company in Trumbull County, stated that additional tariffs could impact some sectors of the industry.
"It's definitely going to hurt the bottom line of some carriers if you have already made an order. Truck Carriers of America, they're trying to find out if it is going to impact already placed orders. But there's been a very high lack of clarity from the administration right now on exactly what it's going to do," Kerola said.
However, Kerola believes the tariffs will not impact the flow of freight. He also mentioned that the American trucking industry does not fully rely on imported trucks and companies like Peterbilt and Kenworth are less likely to be impacted by the new tariffs.
September is normally a big month for shipping ahead of the holiday season, but not this year. The freight recession is said to be over but Kerola said new tariffs and cost pressures could end up extending that freight recession.
"Right now with prices going up, everybody is going to try and find the cheapest rate. It does cost money to move something, but everybody wants to move it as cheaply as possible, because they're already taking these higher prices everywhere," Kerola said.
