
.Classic
car imports over '25-year-rule' are exempt from US vehicle tariffs
In a
piece in the Mail Online today Freda Lewis-Stempel reports "Classic
car enthusiasts and collectors will have sighed in relief at
news that vehicles of a particular vintage evade Donald Trump's
'reciprocal' 25 per cent tariffs on motor imports introduced
last week - but there could be a huge catch coming next month.
Vehicles
over the age of 25 years will not be subject to the levies announced
on 2nd April as part of the US President's 'Liberation Day'
strategy, protecting one of the UK's most important industries
that contributes £8.7billion of aggregate Gross Value
Added (GVA) to the UK economy each year". |

Will classic car parts still be subject
to tariffs?
Freda Lewis-Stempel
adds "it remains unclear whether classic car parts will
be subject to imports or not. However, if given the green light,
the impact could be catastrophic to small and medium-size businesses".
However, there's growing concerns that a second wave levy will
sting the classic vehicle sector.That's
because an additional 25 per cent tariff will hit auto parts
from 3rd May - and it looks likely they will be applied to classic
car components too".
|