According to CCTV News on October 18, local time on October 17, U.S. President Trump signed an executive order to impose a new 25% tariff on imported medium and heavy trucks and their parts starting November 1. Trump stated that a 10% tariff will also be imposed on imported passenger vehicles.

According to earlier reports from CCTV News, on October 6 local time, U.S. President Trump posted on his social platform "Truth Social" that starting November 1, 2025, all medium and heavy trucks imported into the U.S. from other countries and regions will be subject to a 25% tariff.

On September 25, Trump stated that a 25% tariff would be imposed on all imported heavy trucks starting October 1.

Additionally, according to CCTV News, a recent research report released by Goldman Sachs Group of the U.S. shows that by the end of this year, American consumers may bear 55% of the tariff costs.

The report stated that U.S. businesses may bear 22% of the tariff costs. Since price adjustments take time, U.S. businesses are currently bearing more of the tariff costs. However, "if the ultimate impact on prices from recently implemented and future tariffs is the same as the tariffs implemented earlier this year, American consumers will ultimately bear 55% of the tariff costs."

The report also stated that since the beginning of this year, U.S. tariff policies have led to a 0.44% increase in core personal consumption expenditures and will push the inflation rate to 3% by December. Although U.S. President Trump insists that America's trade partners bear the tariff costs, the reality is that U.S. importers have to pay the tariffs levied by U.S. Customs and Border Protection, and businesses passing on costs also expose consumers to higher prices.

In August, Goldman Sachs released a report stating that American consumers would bear an increasingly larger share of the tariff costs. In response, Trump posted on the social media platform "Truth Social," saying that Goldman Sachs economists "should be replaced."