Big news in trade! U.S. Customs and Border Protection confirmed that auto parts meeting the strict standards of the Canada-U.S.-Mexico Agreement (CUSMA) are exempt from President Donald Trump's 25% tariff. This means that Canadian and Mexican auto components, along with American-made parts in compliant vehicles, get a pass starting May 3!
However, not all parts are in the clear. Other components, as well as non-U.S. parts used in passenger vehicles assembled outside the U.S., will still be hit with a 25% tariff from 12:01 a.m. on May 3.
The move is seen as a positive step toward smoother cross-border trade and could help stabilize auto market prices. For trade enthusiasts, business professionals, and culture buffs alike, this update is a reminder of how global trade policies impact everyday life and industry trends. Stay tuned for more updates as the situation evolves! 🚗💥
Reference(s):
Canadian, Mexican auto parts get Trump tariff exemption under CUSMA
cgtn.com
