President Trump's deadline to strike new trade deals with international partners has passed, bringing new developments for American businesses to be aware of.
With this formal tariff deal in place, Vietnam stands out as a viable and stable production base, particularly for businesses seeking to relocate production from China.
SEMA continues to gain clarity on President Trump's new policies and how they will affect specialty automotive aftermarket businesses.
SEMA has the latest information on tariff developments and how they will impact the specialty-equipment industry.
In a significant step toward preventing a trade war, both countries will reduce tariffs imposed in 2025 by 115%.
The shift follows significant efforts by SEMA to help the Trump administration understand the impacts of tariffs on domestic companies.
We are highlighting the needs of the $337 billion automotive aftermarket industry to ensure the nation's manufacturing prowess.
The executive order imposes a baseline tariff on imports from all countries, along with reciprocal tariffs on approximately 60 countries.
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The 25% tariff will impact completed light-duty vehicles along with some automotive parts and components.