Trump signs announcement to compensate for auto parts tariffs

Source: Wall Street News

US President Trump signed an announcement on the 29th, allowing some compensation to auto manufacturers who import auto parts and assemble cars in the United States. This latest move reflects the continued opposition from all walks of life in the United States to the government's tariff policies, bringing increasing pressure on the government.

According to the announcement, the compensation is used to offset some tariffs on assembled auto parts in the United States, with compensation amounts up to 3.75% of the retail price of automobiles, which will be reduced to 2.5% of the retail price of automobiles in the second year.

Trump's previously announced tariffs of 25% on imported cars officially came into effect on April 3, and the measures to impose tariffs of 25% on key auto parts are planned to take effect on May 3.

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