KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
The White House has announced that all medium- and heavy-duty trucks imported into the U.S. will face a 25% tariff starting Nov 1, marking a major escalation in President Donald Trump’s trade protection strategy aimed at supporting domestic manufacturers.
The move — justified on national security grounds — targets imports of delivery trucks, buses, and semi-trailers from key trading partners including Mexico, Canada, Japan, Germany, and Finland, all of which are U.S. allies.
Trump said the tariffs are designed to protect U.S. truckmakers such as Paccar’s Peterbilt and Kenworth as well as Daimler Truck’s Freightliner, which he described as “vital to America’s industrial strength.”
Key Details
Effective date: November 1, 2025
Tariff rate: 25% on all medium- and heavy-duty truck imports
Top import sources: Mexico, Canada, Japan, Germany, Finland
Affected firms: Stellantis (Ram), Daimler Truck, Volvo Group, Paccar
Mexico’s role: Largest exporter to U.S. with ~340,000 units annually
Background: Imports of large trucks from Mexico have tripled since 2019
Under the USMCA trade pact, trucks with at least 64% North American content currently enjoy duty-free access. However, the new tariffs could complicate that framework and disrupt cross-border supply chains for automakers.
Mexico has formally opposed the tariffs, noting that its exports contain roughly 50% U.S.-made components — including engines and steel.
Industry Impact
The new measure may strain relationships with allies and raise production costs for automakers operating in North America. Stellantis, which assembles Ram heavy-duty trucks in Mexico, had previously lobbied the administration against steep import duties.
Sweden’s Volvo Group, which is investing US$700 million in a truck plant in Monterrey, may face project delays or higher compliance costs ahead of its 2026 launch.
The U.S. Chamber of Commerce warned the policy could “disrupt critical North American supply chains” and hurt U.S. competitiveness in commercial vehicles.
Market Watch
The announcement comes amid rising global trade friction and follows a series of protectionist actions targeting electric vehicles and steel imports. Analysts caution that escalating tariffs could pressure U.S. logistics and construction firmsdependent on imported fleets and components.
Investors will be closely watching share price reactions for Stellantis (STLA.US), Daimler Truck Holding (DTG.DE), and Paccar (PCAR.US) when U.S. markets open, as well as any retaliation from Mexico and Canada under the USMCA framework.
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