President Donald Trump agreed to delay tariffs for one month on some vehicles built in North America after a call with the CEOs of General Motors and Ford and the chair of Stellantis, the White House said Wednesday.
OTTAWA — The White House announced on Wednesday that the U.S. was providing a one-month exemption to automobiles covered by a free trade agreement with Canada and Mexico from the 25 per cent tariffs he slapped on both countries.
Shares of General Motors, Ford, and Stellantis climbed on Wednesday after a report suggested that the Trump admin may delay auto tariffs.
That didn’t take long. The White House announced Wednesday it would delay a portion of its 25 percent tariffs on Mexico and Canada to appease automakers whose execs rang President Donald Trump and asked for special treatment.
The Dow rallied on Wednesday after the White House confirmed automakers would be exempted from tariffs on Mexico and Canada for a month. White House press secretary Karoline Leavitt said General Motors,