By Caitlin McCabe
Auto stocks rose Tuesday after the Trump administration agreed to delay imposing new tariffs on Mexico and Canada, offering relief to an industry that relies heavily on both countries for manufacturing.
General Motors $(GM)$ and Ford Motor $(F)$ shares advanced modestly in premarket trading. In Europe, shares in Volkswagen and Stellantis also stood slightly higher.
Auto stocks had fallen Monday in volatile trading.
The Trump administration said Saturday it would place 25% tariffs on goods from Mexico and Canada-only to then put those plans on hold following calls with both countries' leaders.
The stakes are high for the industry, since most automakers use Mexico and Canada to manufacture vehicles and parts for the U.S. market. Auto companies had hoped Trump's plans would include a carve-out for cars that comply with the North American free-trade deal. So far, however, those exemptions haven't been included.
In Asia, shares in Japan's Toyota, Nissan and Honda all advanced. The three produce vehicles in Mexico and export some to the U.S.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
February 04, 2025 07:31 ET (12:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。