Trump grants automakers one-month exemption from tariffs
Publishing timestamp: 2025-03-05 18:44:40
Summary
The White House granted a one-month delay for tariffs on automakers whose cars comply with USMCA rules, following a request from automakers. The exemption includes automotive parts and accessories as well. Shares of GM, Ford, and Stellantis went up after the announcement. Honda clarified that they did not announce plans for a new plant in the US, despite Trump's mention in his speech. There is concern among automotive executives about the impact of prolonged tariffs on profits and production plans.
Sentiment: MIXED
Tickers: TSLA, F, STLA, HMC, GM,
Keywords: tariff, ford motor co, autos, donald trump, canada, foreign policy, john elkann, united states, breaking news: politics, general motors co, politics, mexico, donald j. trump, transportation, mary barra, tesla inc, honda motor co ltd, stellantis nv, business news, breaking news: markets, breaking news: business,
Source: https://www.cnbc.com/2025/03/05/trump-grants-automakers-one-month-exemption-from-tariffs.html