Trump Approves Tariff Exemptions for Car Production in America

SadaNews Economy - US President Donald Trump has signed orders for significant tariff exemptions for the production of cars and engines in the United States, and has imposed new tariffs of 25 percent on medium and heavy trucks and imported spare parts starting November 1.

Trump has also imposed a 10 percent tariff on imported buses.

Trump's order allows automotive companies to obtain a credit equivalent to 3.75 percent of the proposed retail price for cars assembled in the United States until 2030 to offset the tariffs on spare parts.