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Donald Trump has given manufacturers a month -long manufacturers of a month on the prices on imports from Mexico and Canada, in the last last minute policy to Roin Corporate America.
The white house press secretary Karoline Leavitt said that the president spoke with Chrysler and Jeep Stellantis, Ford and General Motors on Wednesday.
Leavitt added that the exemption would apply to cars complying with the terms of the 2020 trade agreement between the United States, Mexico and Canada.
“The president gives them an exemption for a month so that they are not economic disadvantage,” said Leavitt.
A senior Trump administration official later said that the exemption would also apply to automotive parts that were in accordance with the USMCA agreement. The parts represent most of North American cross-border trade in industry.
The sculpture comes after the markets reacted turbulently to the taxation of the Trump administration of 25% of prices on imports from Canada and Mexico, and an additional 10% levy on China on Tuesday.
At one point, all S&P 500 Post-electoral gains have been destroyedBefore the index finds the ground. The index joined strongly on Wednesday, adding 1.1% in a large increase.
The actions of American car manufacturers jumped, Ford winning 5.8%, GM increasing by 7.2%and the receipts deposited from US-Listet Stellantis, up 9.2%. Other groups have also won, with receipts of Wall Street in the Japan Toyota up 6.5%.
The prices on Mexico and Canada had been considered particularly punitive for the automotive industry due to the complex supply chains that crisscross North America.
Trump prices triggered an escalation of the North American trade war. Canada has responded with steep samples from all American imports. Mexico said he was planning to announce his response on Sunday.
In a sign of the tensions raised by the emerging trade war, the outgoing Prime Minister Justin Trudeau will not raise the reprisal rates of Canada if Washington maintains samples in Ottawa, a main government adviser at the Financial Times told.
Flavio Volpe, the head of the association of car manufacturers in Canada, added that a stay of the industry would not resolve the question for businesses and workers fearing job losses and factories.
He said: “No one can operate under 30 -day threat cycles, including American companies. Proof of this is the fact that it was the American companies that asked for this stay, not Canada or Mexico. »»
The American Automotive Policy Council, a sales organization representing Stellantis, Ford and GM in Washington, praised this decision. GM said separately that the new approach would allow American car manufacturers to compete and invest at the national level.
Leavitt suggested that more industries would be able to plead in favor of tariffs, saying that Trump was “open to hearing additional exemptions.”
“He always has an open dialogue, and he will always do so. . . What is good, what he believes is suitable for the American people, “she added.
But Leavitt said that Trump’s “reciprocal” rates would still come into force on April 2 as planned.
“He is strongly on this subject, whatever happens, no exemption,” she said. “So it’s where the month comes from.”
Trump told companies “getting there” and starting to move their production in the United States, “said Leavitt. “This is the ultimate goal.”
Earlier Wednesday, US Secretary of Commerce Howard Lutnick said that the president would “examine” the help of certain sectors.
But he reiterated the complaints of the Trump administration that Mexico and Canada failed to suppress the traffic of the fatal fentanyl opioid and suggested that all suspended people could last a month.
Additional report by Claire Bushey
