We're tracking several developments involving the Trump administration this week. Following talks with big three automakers, Ford, General Motors and Stellantis, President Donald Trump has given the auto industry a one-month exemption to tariffs on imports from Canada and Mexico.

The announcement comes after Trump spoke with leaders of the "big 3" automakers, Ford, General Motors, and Stellantis on Wednesday.

Shares of automakers Ford, General Motors and Stellantis traded at or near session highs Wednesday afternoon, after the White House said it would give a one-month exemption to tariffs on automobiles coming from Canada and Mexico.

The Dow rallied on Wednesday after the White House confirmed automakers would be exempted from tariffs on Mexico and Canada for a month. White House press secretary Karoline Leavitt said General Motors,

President Donald Trump has delayed tariffs on automobile imports from Canada and Mexico for one month after requests from executives at the Big Three

A wave of layoffs and furloughs has hit jobs tied to the manufacturing and freight sectors in the U.S., Canada and Mexico.

Shares of General Motors, Ford, and Stellantis climbed on Wednesday after a report suggested that the Trump admin may delay auto tariffs.

WASHINGTON — President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, amid fears that the trade war could harm U.S. manufacturers.

Officials reportedly met with Ford, General Motors and Stellantis NV executives on Tuesday to discuss the impact of the tariffs and possible relief measures.

On Wednesday, Trump granted U.S. automakers that trade under USMCA a one-month exemption from the tariffs following concerns raised by Ford, General Motors and Stellantis. The three automakers said the levies are unsustainable for domestic car manufacturing, The Associated Press reported.

What Happened? Shares of automotive manufacturer General Motors (NYSE:GM) jumped 8.2% in the mid-day session after the Trump administration announced a one-month delay for tariffs on automakers whose cars comply with the United States-Mexico-Canada Agreement.