US stocks rise after Trump exempts Canada and Mexico from auto tariffs, benefiting automakers.
US stocks surged on Wednesday after President Trump announced a one-month exemption from tariffs on auto imports from Canada and Mexico. The Dow Jones, S&P 500, and Nasdaq each saw gains of about 1.1%, 1.12%, and 1.46%, respectively. This decision particularly benefited automakers like Ford and General Motors, whose stocks rose over 5%. Despite the positive market reaction, Trump did not rescind all tariffs, especially those on China, leaving some market uncertainty. The move was seen as a step towards avoiding a severe trade war that could harm the economy and increase inflation.
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