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Trump had set a Nov. 1 deadline to raise the fentanyl-related tariffs he imposed on certain Mexican goods to 30% from 25%. The levies apply to products that are not protected by the USMCA.

Paccar expects to seize a bigger U.S. heavy-duty truck market share and to be able to increase prices once the Section 232 import tariffs on medium- and heavy-duty trucks and parts go live.

The soft drink maker is limited by the U.S. supply of cane sugar and its ability to ramp up production in glass bottles, CFO John Murphy said.

Mexico has recovered as much as $10.9 billion in tax revenue this year due to the government’s efforts to stop illegal fuel imports, the head of Mexico’s customs agency said Oct. 20.

Truck imports that qualify for relief under the U.S.-Canada-Mexico trade agreement will be exempt from the charges, but not buses, according to the fact sheet.

While questions remain around transshipments, Jason Schenker of Prestige Economics said, “Mexico’s going to be a very big winner” when the trade pact is renegotiated.

Mexican officials vowed to push back against new tariffs the Trump administration is planning on heavy trucks, yet another hurdle the U.S. is throwing in front of its southern neighbor.

Every one of the countries identified by the U.S. Department of Commerce Foreign Trade Division as a top supplier by export value of trucks to the U.S. warned the agency against the levies.

The Canadian and Mexican leaders committed to coordination ahead of a high-stakes review in 2026 of their trade pact with the U.S. as President Trump’s tariff threats put the accord at risk.

The trip is expected to produce a declaration on boosting cooperation in energy, security, transportation and trade, and likely will include pledges to increase trade of autos and parts.