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Trump signs announcement to provide compensation for tariffs on auto parts
On April 30, U.S. President Trump signed a notice on the 29th allowing certain compensations for automobile manufacturers that import automotive parts and assemble cars in the United States. This latest initiative reflects the ongoing opposition from various sectors in the U.S. to the government's tariff policies, putting increasing pressure on the government. According to the notice, this compensation is intended to offset a portion of the tariffs on automotive parts assembled in the U.S., with a maximum compensation amount reaching 3.75% of the retail price of the vehicle; this cap will decrease to 2.5% of the retail price in the second year. The 25% tariff on imported cars, previously announced by Trump, officially took effect on April 3, while the measure to impose a 25% tariff on key automotive parts is scheduled to take effect on May 3. ( Xinhua News Agency )