According to Xinhua News Agency, US President Trump signed a proclamation allowing compensation for auto producers importing auto parts and assembling vehicles in the US. This move reflects the ongoing opposition from various sectors in the US to the government's tariff policies, exerting greater pressure on the administration.
According to the proclamation, the compensation amount can reach up to 3.75% of the vehicle's retail price, aimed at offsetting some of the tariffs on auto parts assembled in the US. The compensation cap will be reduced to 2.5% of the vehicle's retail price in the second year.
The previously announced 25% tariff on imported vehicles by Trump took effect on April 3, and the measure to impose a 25% tariff on key auto parts is expected to take effect on May 3.