Vehicle manufacturers have been given two years in which they should increase part of American components in cars gathered in factories in the United States.
US president Donald Trump on Tuesday signed two commands, providing ease of imports to imports by incorporating tax benefits and exclusion from fees for materials. Reuters reported this on Wednesday, April 30.
Trump has provided car manufacturers for two years to increase the part of American components in cars gathering in factories in the United States.
Companies will receive compensation for the duties paid for imports at 3.75% of the total recommended manufacturer’s retail price for cars made in the USA until April 2026. From May 1, 2026, this compensation will drop to 2.5% and operate until April 30, 2027.
The White House reported that these changes were not concerned with 25% of the duties introduced earlier and occupied 8 million cars imported in the United States earlier.
Meanwhile, U.S. Minister Howard Lynitke announced the conclusion of the first agreement to reduce duties to one another to a foreign partner, but did not specify which country to talk about.
“The agreement has been reached, but we are waiting for the statement from their prime minister and parliament,” he said.
Remember that the first Trump introduced a 25% duty to fully collected cars, and tariffs for spare parts should enter the strength no later than May 3. However, it was later found that he was considering the opportunity to make excluded from duties in imports of cars and spare parts to provide more time to provide for more time in the United States.
In the tariffs for Canada and Mexico, exceptions have been provided for cars with sufficient maintenance of American -MADE components in accordance with the current North American trade agreement.
Cars in the United States rise in prices of thousands of dollars – the media
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.