Trump offers one-month tariff exemption to U.S. automakers [Video]

President Trump is giving a one-month exemption to U.S. automakers from the round of tariffs that took effect on March 4, White House press secretary Karoline Leavitt said on Wednesday. 

The announcement comes after Mr. Trump spoke with leaders of the so-called Big Three automakers — Ford, General Motors and Stellantis, the parent company of Chrysler, Dodge, Jeep and Ram — on Wednesday, Leavitt said.

Mr. Trump’s imposition of 25% tariffs on all goods imported from Canada and Mexico, as well as an additional tariff of 10% on Chinese imports, were expected to hit the auto industry hard because many vehicle parts and components are imported from those countries to manufacture cars in the U.S.

“We spoke with the Big Three auto dealers,” Trump said in a statement read by his spokesperson. “We are going to give a one-month exemption on any autos coming through USMCA,” referencing the North American …