Shares of Ford Motor Co., General Motors Co., and Stellantis NV rallied on Wednesday after the Trump administration announced a temporary exemption from tariffs on some vehicles imported from Mexico and Canada.

Auto makers have been warning that Trump’s tariffs would increase the cost of manufacturing, auto parts, and car prices.

Explore why the Stellantis share price has crashed this year, and why an emerging death cross pattern poses major risk

Stellantis has told its U.S. dealers the 25% tariffs on products from Mexico and Canada will put the carmaker at a disadvantage against its Asian and European peers, an email sent to its retailers showed on Tuesday.

The White House press secretary said Trump decided to pause the 25% tariffs on auto imports after talking to officials with Ford, GM and Stellantis.

A possible 25 percent levy on goods from Canada and Mexico is likely to raise the prices consumers pay for new cars and trucks, and disrupt complex supply chains.

President Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, the White House said Wednesday, as a temporary reprieve following pleas from industry leaders.

President Donald Trump has granted an exemption on auto tariffs on Mexico and Canada for one month, White House Press Secretary Karoline Leavitt confirmed Wednesday.

President Trump on Wednesday announced a one-month exemption on tariffs against Canada and Mexico for cars following a meeting with the three major U.S. automakers. Trump spoke with the leaders of