At a glance:
Tariffs on Trucks, Buses, and their Parts
USTR Section 301 Investigation of Forced Labor Issues in Nicaragua
Trade Deals Reached with Cambodia, Vietnam, Thailand, and Japan
U.S. Senate Votes to Rescind Tariffs on Brazil and Canada.
Trump imposes duties on imports of trucks and buses.
On October 17, 2026, President Trump issued a proclamation imposing additional tariffs on medium- and heavy-duty vehicles (such as trucks and buses) and their parts under Section 232 of the Trade Expansion Act of 1962.
Effective November 1, 2025.
25% tariff on imported medium- and heavy-duty vehicles (such as trucks) and key medium- and heavy-duty vehicles parts.
10% tariff on imported buses.
Stacking rules: If an article is subject to 232 Medium- and Heavy-Duty Trucks tariffs then the article is NOT subject to 232 Aluminum, 232 Steel, IEEPA Canada, or IEEPA Mexico tariffs.
Additional Measures:
U.S.-based manufacturers can qualify or import duty offsets (3.75% of vehicle value) to mitigate the impact of tariffs.
Importers of vehicles that qualify for USMCA preferential treatment may pay duties only on the foreign portion of the vehicle’s value at this time. Knock-down kits are excluded and will remain subject to the 25% duty effective November 1.
Certain Canadian and Mexican aluminum and steel used in U.S. production may qualify for tariff relief under specified conditions.
The government may add more subject vehicle parts to Annex I.
USTR uses Section 301 to go after forced labor issues for the first time.
On October 23, 2025, the USTR determined that Nicaragua’s acts, policies, and practices related to labor rights, and human rights burden U.S. Commerce and proposed responsive measures under Section 301 of the Trade Act of 1974. This marks the first time the USTR has investigated forced labor allegations under Section 301.
Among proposed actions are the following:
Suspension of the application of benefits to Nicaragua, including tariff concessions and the cumulation of Nicaraguan content for other Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) partners, either immediately or phased in over a period up to 12 months;
Tariffs of up to 100% on some or all Nicaraguan imports, immediately or phased in over a period up to 12 months.
The public is invited to provide written comments by November 19, 2025.
The U.S. reaches trade deals with Cambodia and Malaysia.
On October 26, 2025, the United States reached trade agreements with Cambodia and Malayasia.
19% reciprocal tariff on goods imported from Cambodia and Malaysia
0% tariff on certain products (to be determined) imported from Cambodia and Malaysia.
Malaysia grants the U.S. preferential market access.
Both Cambodia and Malaysia commit to U.S. regulatory requirements and to reducing non-tariff barriers for U.S. exports.
The U.S. signs framework memoranda for trade deals with Vietnam, Thailand, and Japan.
On October 26, 2025, the United States reached trade agreements with Vietnam and Thailand. Vietnam and Thailand will grant preferential market access for U.S. goods and comply with the U.S. regulations. The U.S. in turn will keep reciprocal tariffs on goods from Vietnam (20%) and Thailand (19%) and exempt certain products (to be determined).
On October 27, 2025, the United States and Japan reached an agreement regarding rare earth minerals.The memorandum addresses investments and cooperation in manufacturing, economic security and advanced technology. This agreement continues the Trade and Investment Agreement signed this summer, which established a 15% tariff on Japanese goods.
President Trump and President Xi meet in South Korea to discuss trade matters.
China will reduce export controls on U.S. goods and purchase U.S. soybeans.
The U.S. will lower fentanyl related tariffs from 20% to 10%.
The U.S. Senate passes joint resolutions concerning Brazil and Canada.
October 28 and 29, 2025 resolutions would terminate the national emergencies declared by the President that served as the basis for the 40% tariff on Brazilian goods and the 35% tariff on Canadian goods. However, the joint resolutions are not expected to take effect. The House has delayed the votes to adopt the resolutions, and even if they were passed, the President would likely veto them.
These Senate votes reflect the chamber’s opposition to the unprecedented tariffs on Brazil and Canada and would support court challenges against those tariffs.