Fact Sheet: President Donald J. Trump Addresses the Threat to National Security from Imports of Medium and Heavy-Duty Vehicles, Parts, and Buses
Fact sheetTariff raisedPublished 25/10/17Open the original
Summary
President Trump imposes, under section 232, a 25% tariff on imports of medium- and heavy-duty vehicles and parts and a 10% tariff on buses. Depending on USMCA treatment, some truck tariffs apply only to non-U.S. content, and an offset program runs from 2025 through 2030 for U.S.-assembled output.
By industry
- Tariffs & Reshoring1 trading day−0.9%p15 stocks5 trading days+3.8%p15 stocks20 trading days+1.7%p15 stocks
“impose tariffs on imports of medium- and heavy-duty vehicles and parts, and buses”
- Batteries, EVs & the IRA1 trading day−2.2%p15 stocks5 trading days−4.8%p15 stocks20 trading days−7.8%p15 stocks
“including engines, batteries, transmission shafts, castings, and forgings”
Day by day after the announcement
| Day | Tariffs & Reshoring stocks | S&P 500 |
|---|---|---|
| 25/10/16 | 0.0% | 0.0% |
| 25/10/17 | −0.1% | +0.8% |
| 25/10/20 | +4.0% | +1.8% |
| 25/10/21 | +3.3% | +1.7% |
| 25/10/22 | +0.4% | +1.2% |
| 25/10/23 | +5.6% | +1.8% |
| 25/10/24 | +6.6% | +2.6% |
| 25/10/27 | +7.5% | +3.9% |
| 25/10/28 | +8.8% | +4.2% |
| 25/10/29 | +8.6% | +4.0% |
| 25/10/30 | +6.3% | +3.7% |
| 25/10/31 | +6.6% | +3.4% |
| 25/11/03 | +6.4% | +3.5% |
| 25/11/04 | +2.4% | +2.3% |
| 25/11/05 | +3.8% | +2.8% |
| 25/11/06 | +2.7% | +1.8% |
| 25/11/07 | +4.5% | +1.8% |
| 25/11/10 | +4.4% | +3.3% |
| 25/11/11 | +2.6% | +3.5% |
| 25/11/12 | +5.6% | +3.5% |
| 25/11/13 | +3.7% | +1.9% |
Korean stocks in these industries
- Hyundai Steel 004020
- POSCO Holdings 005490
- SeAH Steel Holdings 003030
- LG Energy Solution 373220
- Samsung SDI 006400
- SK Innovation 096770
Trades in these industries around the announcement
Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.
- Badrinarayanan Kothandaraman
BuyEnphase Energy
BuyEnphase Energy
ENPH
$309.3K
10,000 sh
$309.3K
Filed 25/11/03
Traded 25/10/31
- Badrinarayanan Kothandaraman
BuyEnphase Energy
BuyEnphase Energy
ENPH
$153.5K
5,000 sh
$153.5K
Filed 25/11/10
Traded 25/11/10
- John L. Thornton
BuyFord Motor
BuyFord Motor
F
$99.2K
7,520 sh
$99.2K
Filed 25/11/18
Traded 25/11/14
- Glencore International
SellCentury Aluminum
SellCentury Aluminum
CENX
$272.3M
9,000,000 sh
$272.3M
Filed 25/11/13
Traded 25/11/10
- Alexi Illya Zawadzki
BuyLithium Americas
BuyLithium Americas
LAC
$191.6K
20,000 sh
$191.6K
Filed 25/10/03
Traded 25/10/01
- John R. McPherson
BuyCommercial Metals
BuyCommercial Metals
CMC
$99.5K
1,712 sh
$99.5K
Filed 25/10/21
Traded 25/10/20
- Mary T. Barra
Sell10b5-1 planGeneral Motors
Sell10b5-1 planGeneral Motors
GM
$22.3M
372,024 sh
$22.3M
Filed 25/09/25
Traded 25/09/24
- Phillip Michael Hardesty
BuySunCoke Energy
BuySunCoke Energy
SXC
$60.9K
9,168 sh
$60.9K
Filed 25/11/12
Traded 25/11/07
- Ralph M. Della Ratta Jr.
BuySunCoke Energy
BuySunCoke Energy
SXC
$50K
7,288 sh
$50K
Filed 25/11/07
Traded 25/11/06
- Mary T. Barra
Sell10b5-1 planGeneral Motors
Sell10b5-1 planGeneral Motors
GM
$12M
200,000 sh
$12M
Filed 25/09/25
Traded 25/09/24
- Mary T. Barra
Sell10b5-1 planGeneral Motors
Sell10b5-1 planGeneral Motors
GM
$10.9M
181,696 sh
$10.9M
Filed 25/09/25
Traded 25/09/24
- Phillip Michael Hardesty
BuySunCoke Energy
BuySunCoke Energy
SXC
$13.5K
2,032 sh
$13.5K
Filed 25/11/12
Traded 25/11/07
- Phillip Michael Hardesty
BuySunCoke Energy
BuySunCoke Energy
SXC
$5,304
800 sh
$5,304
Filed 25/11/12
Traded 25/11/07
- John R. McPherson
BuyCommercial Metals
BuyCommercial Metals
CMC
$587
10 sh
$587
Filed 25/10/21
Traded 25/10/20
- Srinivasan Sivaram
SellQuantumScape
SellQuantumScape
QS
$1.5M
90,000 sh
$1.5M
Filed 25/10/28
Traded 25/10/27
- Mary T. Barra
Sell10b5-1 planGeneral Motors
Sell10b5-1 planGeneral Motors
GM
$1.4M
23,818 sh
$1.4M
Filed 25/09/25
Traded 25/09/23
- Mark L. Reuss
Sell10b5-1 planGeneral Motors
Sell10b5-1 planGeneral Motors
GM
$9.8M
147,570 sh
$9.8M
Filed 25/10/24
Traded 25/10/22
- Robert J. Scaringe
Sell10b5-1 planRivian Automotive
Sell10b5-1 planRivian Automotive
RIVN
$869K
52,350 sh
$869K
Filed 25/11/13
Traded 25/11/11
- Fritz Prinz
SellQuantumScape
SellQuantumScape
QS
$7.1M
461,558 sh
$7.1M
Filed 25/10/28
Traded 25/10/24
- Mark L. Reuss
Sell10b5-1 planGeneral Motors
Sell10b5-1 planGeneral Motors
GM
$5.3M
80,000 sh
$5.3M
Filed 25/10/24
Traded 25/10/22