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Investing.com -- The White House announced Wednesday that it would be granting a one-month exemption to the big three U.S. automakers from the recent tariffs imposed on Mexico and Canada.
"We spoke with the big 3 auto dealers. We are going to give a one month exemption on any autos coming through USMCA," Press Secretary Karoline Leavitt said in a press briefing on Wednesday.
The White House confirmed media reports earlier in the day that the big three automakers including Ford (NYSE:F), General Motors (NYSE:GM), and Stellantis (NYSE:STLA) had requested a reprieve from the tariffs.
The tariffs, which went into effect on Tuesday, included a 25% duty on imports from Canada and Mexico.
Reciprocal tariffs, however, on Mexico and Canada, are still set to go into effect starting Apr. 2.