Shares of General Motors, Ford, and Stellantis climbed on Wednesday after the Trump administration delayed auto tariffs on Mexico and Canada for one month. GM shares gained 5%, Ford rose 4%, while Stellantis surged around 7%.
Shares of Ford Motor Co., General Motors Co., and Stellantis NV rallied on Wednesday after the Trump administration announced a temporary exemption from tariffs on some vehicles imported from Mexico and Canada.
President Donald Trump has agreed to exempt automobiles from newly imposed tariffs on imports from Canada and Mexico for the next month.
All three Detroit automakers, along with others, build vehicles in Canada and Mexico that would face tariffs imposed by Trump.
President Donald Trump has approved a request to exempt automobiles from tariffs that have been imposed on imports from Canada
Officials reportedly met with Ford, General Motors and Stellantis NV executives on Tuesday to discuss the impact of the tariffs and possible relief measures.
On Wednesday, Trump granted U.S. automakers that trade under USMCA a one-month exemption from the tariffs following concerns raised by Ford, General Motors and Stellantis. The three automakers said the levies are unsustainable for domestic car manufacturing, The Associated Press reported.
WASHINGTON — President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, amid fears that the trade war could harm U.S. manufacturers.
President Donald Trump is giving US automakers a brief delay on tariffs imposed against Canada and Mexico as trade war tensions escalate and concerns rise domestically about the economy.The pause was confirmed at a news briefing by
Shares of the world’s largest automakers, including Chevrolet-maker General Motors (GM) and Dodge-maker Stellantis (STLA), were hit hard at the
President Donald Trump temporarily suspended the 25% tariffs imposed this week on imports from Canada and Mexico, easing trade tensions but fueling uncertainty. The exemptions, covering the U.S.s top trading partners,