03/06/2025

Automakers Applaud Trump’s Tariff Exemption for Their Industry

The president quickly backtracked in order to appease car makers

The stock market surged on Wednesday after the Trump administration granted automakers a one-month exemption from tariffs imposed a day earlier.

The Dow Jones Industrial Average closed the trading session up nearly 500 points, or 1.1 percent, while the S&P 500 also jumped 1.1 percent. The tech-heavy Nasdaq increased nearly 1.5 percent on Wednesday.

Ttrump's press secretary, Karoline Leavitt, said Trump had ordered the delay of auto tariffs after a request from the Big 3 U.S. automakers: Ford, General Motors and Stellantis, the parent company of Jeep and Chrysler.

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