Tariffs News Updates

Industrywide U.S. and Canada Class 8 truck retail sales totaled 233,000 units in 2025, Paccar said, and are expected to range from 230,000 to 270,000 trucks in 2026.

President Trump said on social media that import taxes would be raised on autos, lumber and pharmaceutical drugs from South Korea with the rate on other goods going from 15% to 25%.

Canadian Prime Minister Mark Carney said Jan. 25 his country has no intention of pursuing a free trade deal with China, in a response to Trump’s tariff threat.

Volkswagen’s plans for a possible Audi factory in the U.S. aren’t progressing as U.S. tariffs add a burden and talks for local incentives haven’t yielded results, CEO Oliver Blume said.

The EU will suspend the retaliatory tariffs for another six months after President Donald Trump backed down from his threat to impose levies on some countries that opposed his push to annex Greenland.  

European Union lawmakers are expected to vote on ratifying the bloc’s trade deal with the U.S., restarting the process after President Donald Trump walked back his latest threat.

The Detroit-based manufacturer also said it will likely end output of its all-electric Chevrolet Bolt that’s built in the Kansas plant in about a year and a half.

The United States has imposed a 15% tariff on most imports from Japan. Another concern is the impact on Japanese manufacturing, including automakers, from China’s curbs on exports of rare earths.

The Parliament’s trade committee postponed the vote indefinitely on Jan. 21, casting doubt on whether the pact will ever get across the finish line. 

The goal is to finalize a preliminary agreement that cuts U.S. levies on Swiss goods to 15% from 39%, which was the highest level among advanced economies.