Written by Cláudio Afonso | LinkedIn | X
The Trump administration is considering a one-month delay on newly imposed tariffs for automakers importing from Mexico and Canada, according to Bloomberg, citing people familiar with the matter.
President Donald Trump held a call Tuesday with the CEOs of General Motors Co. and Ford Motor Co., along with the chairman of Stellantis NV, to discuss the possibility of delaying tariffs on North American-built vehicles by 30 days.
Shares of Ford, GM, and Stellantis jumped on the reports, gaining 4%, 5%, and 7%, respectively.
General Motors CEO Mary Barra, Ford CEO Jim Farley, Ford Executive Chairman Bill Ford, and Stellantis Chairman John Elkann participated in the call, where automakers urged Trump to waive the planned 25% tariffs on vehicles from Mexico and Canada that comply with the 2020 U.S.-Mexico-Canada Agreement’s (USMCA) rules of origin.
The companies have also offered to increase U.S. auto investments but are seeking policy certainty on tariffs and environmental regulations, the sources added.
A follow-up meeting on possible tariff relief is scheduled for Wednesday at the White House, people familiar with the discussions said.
Trump previously signaled the tariffs would be significant, saying in mid-February, “I probably will tell you that on April 2, but it’ll be in the neighborhood of 25%.”
He added that companies with U.S.-based production would avoid the levy, while those reliant on foreign manufacturing would face tariffs of “25% and higher — and it’ll go very substantially higher over the course of a year.”
The president has repeatedly criticized what he calls unfair trade restrictions on U.S. automotive exports, arguing that foreign markets impose barriers on American-made vehicles while benefiting from relatively low U.S. tariffs.
