Shares of automakers Ford, General Motors and Stellantis traded at or near session highs Wednesday afternoon, after the White House said it would give a one-month exemption to tariffs on automobiles coming from Canada and Mexico.

The Dow rallied on Wednesday after the White House confirmed automakers would be exempted from tariffs on Mexico and Canada for a month. White House press secretary Karoline Leavitt said General Motors,

WASHINGTON—Automakers will get a one-month reprieve from tariffs on Mexico and Canada for cars that comply with a free-trade agreement between those two nations and the U.S., the White House said Wednesday.

President Donald Trump has agreed to exempt automobiles from newly imposed tariffs on imports from Canada and Mexico for the next month.

Shares of General Motors, Ford, and Stellantis climbed on Wednesday after a report suggested that the Trump admin may delay auto tariffs.

The stock market surged on Wednesday after the Trump administration granted automakers a one-month exemption from tariffs imposed a day earlier. The Dow Jones Industrial Average closed the trading session up nearly 500 points, or 1.1%, while the S &P 500 also jumped 1.1%. The tech-heavy Nasdaq increased nearly 1.5% on Wednesday.

The Trump administration will give a one-month exemption from tariffs to automobiles coming from Canada and Mexico, the White House said today. Press Secretary Karoline Leavitt made the announcement after President Donald Trump spoke with executives from Ford,

U.S. automakers are getting a one-month exemption from the Trump administration’s tariffs that went into effect Monday.