US to impose 25 percent tariff on medium-, heavy-duty trucks starting Nov 1

U.S. President Donald Trump announced Monday that a 25 percent tariff on imported medium- and heavy-duty trucks will take effect on November 1.

"Beginning November 1st, 2025, all Medium and Heavy Duty Trucks coming into the United States from other Countries will be Tariffed at the Rate of 25 percent," Trump said in a Truth Social post.

On Sept. 25, he announced a tariff of 25 percent beginning Oct. 1 on "Heavy (Big!) Trucks" made outside the United States. "We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!" he posted then.

The tariff was delayed following industry pushback from major U.S. automakers out of concern about supply chain disruptions and cost increases, local media reported.

Analyses have indicated that Trump's previously imposed tariffs, including 50 percent tariffs on steel, aluminum, and copper, have already significantly increased costs for U.S. truck manufacturers.

According to data from the U.S. Department of Commerce, the U.S. imported approximately 245,000 medium- and heavy-duty trucks last year, with a trade value exceeding 20 billion U.S. dollars.

The U.S. Chamber of Commerce pointed out that the top five sources of heavy-duty truck imports for the United States are Mexico, Canada, Japan, Germany and Finland, "all of which are allies or close partners of the United States posing no threat to U.S. national security."

US to impose 25 percent tariff on medium-, heavy-duty trucks starting Nov 1

US to impose 25 percent tariff on medium-, heavy-duty trucks starting Nov 1

US to impose 25 percent tariff on medium-, heavy-duty trucks starting Nov 1

US to impose 25 percent tariff on medium-, heavy-duty trucks starting Nov 1

China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.

The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.

According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.

In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.

China's aggregate social financing maintains high growth in 2025