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Shares of Paccar - Peterbilt and Kenworth owner - soar after Trump's heavy truck tariffs
CNBC· 2025-09-26 11:52
Core Viewpoint - The announcement of a 25% tariff on imported heavy trucks by President Trump is expected to benefit Paccar, leading to a significant increase in its stock price. Group 1: Tariff Announcement - President Trump announced a 25% tariff on imported heavy trucks effective October 1, which has led to a more than 6% increase in Paccar's shares premarket [1] - The tariff aims to protect large truck manufacturers, including Paccar's brands Peterbilt and Kenworth, from foreign competition [2] Group 2: Cost Implications - Paccar manufactures over 90% of its trucks domestically, but these trucks are priced $8,000 to $10,000 higher than those produced by competitors in Mexico, according to Bank of America [2] - The tariff is likely to address the cost disparity and enhance Paccar's competitive position in the market [3]