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In September, the Biden administration locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles and hikes on EV batteries and key minerals.
Roughly 70 percent of Mexico's natural gas consumption comes from the United States, and the U.S. imports about 700,000 barrels of crude oil from Mexico each day. [3] Food production between the two countries is also closely integrated; the U.S. sources roughly half of its fresh fruits and vegetables from Mexico, and Mexico is the top market ...
In the United States, foreign cars older than 25 years are exempt from certain safety and emissions standards that apply to newer vehicles. Read: 12 Car Brands That Will Break Down Twice as Fast ...
The Customs Convention on the Temporary Importation of Private Road Vehicles is a 1954 United Nations multilateral treaty. In states that adhere to the Convention, it allows individuals that are temporarily visiting a country—such as tourists or individuals on student visas—to import a road vehicle to the country duty -free.
The Customs Convention on the Temporary Importation of Commercial Road Vehicles is a 1956 United Nations multilateral treaty. In states that adhere to the Convention, it allows commercial road vehicles—such as taxis , buses , and semi-trailer trucks —to temporarily travel within the country duty free.
Of course, American and European companies have long manufactured cars and parts in Mexico for export to the U.S. and Canada, taking advantage of lower labor costs and the free trade agreement.
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As of November 2022, these are the only cars that have been approved for import under the Show or Display exception. [7] Some of these models have since passed the 25 year mark, meaning that both they and even the less-limited versions of the same car (i.e., the non-Nismo Nissan Skyline R32) are exempt from import restrictions anyway. [8] [9]