National Kitchen & Bath Association CEO Bill Darcy discusses the potential impact of President Donald Trump’s lumber and furniture tariffs on ‘Varney & Co.’
President Donald Trump said on Monday that his administration will impose a 25% tariff on medium- and heavy-duty trucks next month.
“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%,” Trump wrote in a Truth Social post.
The U.S. trucking industry is a cornerstone of the national economy, moving roughly 73% of all domestic freight, according to the American Trucking Associations. Around 2 million Americans work as heavy and tractor-trailer truck drivers, with many more employed as mechanics and support staff, according to data provided by the U.S. Chamber of Commerce.
The top five import sources by customs value are Mexico, Canada, Japan, Germany and Finland.
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Profit margins across the U.S. logistics sector are typically slim, leaving it highly sensitive to any unexpected increases in operating costs.
This is a developing story. Please check back for updates.
