President Trump gave a one-month tariff reprieve to auto makers on Wednesday, a day after his 25% tax on imports from Mexico and Canada took effect. Everyone else will still pay. Welcome to the Trump tariff thrill ride, where you never know what’s going to happen next.
Stock prices surged Wednesday after official news of the auto reprieve, which had been signaled by Commerce Secretary Howard Lutnick. GM and Ford shares jumped in particular. This is the second time Mr. Trump has blinked on tariffs, and investors may figure he’ll do it again in a month.
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