U.S. President Donald Trump’s decision to delay auto tariffs for a month triggered a sharp rally in U.S. automaker stocks. On Wednesday, shares of General Motors soared 7.14%, Ford jumped 5.18%, and Stellantis surged 9.28% on the New York Stock Exchange.
The White House had officially announced the one-month postponement of auto tariffs following a phone conversation with Canadian Prime Minister Justin Trudeau.
Before his call with Trudeau, Trump reportedly consulted with CEOs of major automakers to gather their input.
As news of this development broke, stock prices across the U.S. auto industry skyrocketed.