Reported 1 day ago
Auto stocks surged on Monday as President Trump suggested potential tariff relief for car manufacturers. He mentioned he is considering measures to assist companies adjusting to new parts sourcing from countries like Canada and Mexico. However, he did not confirm whether this assistance would address existing 25% tariffs on car imports and parts. Major automakers including GM, Ford, and Stellantis saw stock increases amid concerns about price hikes and significant losses in sales due to tariffs.
Source: YAHOO