General Motors and Ford's stock price gains have widened as Trump considers a 25% tariff exemption clause on imported cars and parts
General Motors' stock price rose by 3.9%, Ford Motor increased by 3.64%, while Tesla fell by 1.46%. U.S. President Trump stated that he is considering exemption clauses for a 25% tariff on imported cars and parts to support automakers. He mentioned that automakers are turning to parts from Canada and Mexico, but it will take time to achieve domestic production in the U.S. The tariffs on parts will take effect on May 3
General Motors rose 3.9%, Ford Motor rose 3.64%, while Tesla still fell 1.46%. U.S. President Trump claimed that he "is considering some measures to help automakers. They are turning to using parts produced in Canada, Mexico, and other places, but they need a little time because these parts will need to be produced domestically in the U.S. in the future." Trump has imposed a 25% tariff on automobiles, and the tariffs on parts will take effect no later than May 3. He has set exemptions for tariffs on Canada and Mexico, allowing vehicles that meet the local content requirements of the existing North American trade agreement to be exempt from taxation.
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