‘Big Three’ Automaker Stocks Gain as Trump Grants One-Month Tariff Exemption | Global News Avenue

General Motors Stocks (General), Ford Motor (f) and Chrysler’s parents Strantis (pressure) On Wednesday, the White House granted automakers exemptions from new tariffs on Canada and Mexico.

“We will issue a one-month exemption on any passing car USMCA“The reciprocity tariffs will still take effect on April 2, but the president will be exempted for one month as required by companies related to the USMCA, so they are not at an economic disadvantage,” said Karoline Leavitt, White House Press Secretary. ”

Earlier Wednesday, Commerce Secretary Howard Lutnick said in an interview that President Donald Trump is considering reducing certain responsibilities in certain departments, and the automotive industry may be one of them.

President Trump also proposed Tax cuts He spoke to buyers of American-made cars at a joint Congress meeting Tuesday night.

Lutnik told Bloomberg TV Trump may provide some tariffs to the certification department and said: “It’s probably a car, or someone else.”

The Commerce Secretary noted that the government would consider lowering companies complying with USMCA trade agreement regulations, which was negotiated with Canada and Mexico during Trump’s first term. Lutnik added that all theThree majors“The automaker is in line with this deal.

The comments Trump made in his speech to Congress last night could also help boost automakers’ stocks when he said: “I also want to pay interest on car loan taxes, but only when cars made in the United States, only when they are made in the United States.”

Even though today’s “Big Three” yields range from about 5% to 8%, only GM stock has traded on active territory over the past year.

Update – This article has granted one-month tariff exemption to automakers through a White House statement.