[ad_1]
Shares of Ford and General Motors surged on Wednesday as President Donald Trump planned to postpone auto tariffs for six months, officials familiar with the situation told CNBC.
Ford and GM shares both added about 1% after opening, with declines on that day.
The White House has until May 18 to decide whether it will add duties on imports of vehicles and auto parts. The president is considering tariffs as high as 25% on cars.
Trump views car rates as a key lever in trade negotiations with the European Union and Japan. But the US is considering retaliating with its own tariffs on US goods worth up to $ 300 billion.
Bloomberg first reported the delay in car rates.
WATCH: The Trump administration will delay auto prices by six months
[ad_2]
Source link