Trump grants one-month exemption for US automakers from new tariffs on imports from Mexico, Canada [Video]

WASHINGTON (AP) — President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, as worries persist that the newly launched trade war could crush domestic manufacturing.

The pause comes after Trump spoke with leaders of the “big 3” automakers, Ford, General Motors and Stellantis, on Wednesday, according to White House press secretary Karoline Leavitt.

Asked if 30 days was enough for the auto sector to prepare for the new taxes, Leavitt said Trump was blunt with the automakers seeking an exemption: “He told them that they should get on it, start investing, start moving, shift production here to the United States of America where they will pay no tariff.”

Shares of big U.S., Asian and European automakers jumped as much as 6% after the announcement.

Pausing the 25% taxes on autos traded through the North American trade pact USMCAwould only delay a broader reckoning to …