Trump Considers Pausing 25% Tariffs on Auto Imports from Canada, Mexico as Stocks Rise

President Donald Trump has indicated a potential pause on the 25% tariffs for the auto industry, suggesting that he is considering measures to assist some car companies. This comes in response to the tariffs on imported vehicles and parts implemented earlier this month. Trump mentioned that automakers need additional time to shift production from countries like Canada and Mexico to the U.S. The president's comments were made during a meeting with reporters in the Oval Office, where he also discussed his flexibility on tariffs. Trump stated, 'I'm looking at something to help some of the car companies with it,' emphasizing the need for time to adjust supply chains. This statement follows his previous announcement of permanent 25% auto tariffs, indicating a possible shift in policy. Trump's tariff policies have caused uncertainty in financial markets, with the S&P 500 stock index experiencing fluctuations. Despite this, auto stocks saw a rise following Trump's remarks about potential tariff relief. The president also mentioned his recent conversation with Apple CEO Tim Cook, suggesting he had helped Cook navigate the tariff situation.