--- title: ‘Big 3’ Automakers Get Brief Reprieve from Trump’s Tariffs | TIME description: President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, as worries persist that the newly launched trade war could crush domestic manufacturing. canonical: https://time.com/video/JyLTESZg/ og:title: ‘Big 3’ Automakers Get Brief Reprieve from Trump’s Tariffs og:description: President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, as worries persist that the newly launched trade war could crush domestic manufacturing. og:url: https://time.com/video/JyLTESZg/ og:image: https://cdn.jwplayer.com/v2/media/JyLTESZg/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: ‘Big 3’ Automakers Get Brief Reprieve from Trump’s Tariffs twitter:description: President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, as worries persist that the newly launched trade war could crush domestic manufacturing. twitter:image: https://cdn.jwplayer.com/v2/media/JyLTESZg/poster.jpg?width=720 --- * Politics # ‘Big 3’ Automakers Get Brief Reprieve from Trump’s Tariffs > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: ‘Big 3’ Automakers Get Brief Reprieve from Trump’s Tariffs [Watch (HLS stream): ‘Big 3’ Automakers Get Brief Reprieve from Trump’s Tariffs](https://cdn.jwplayer.com/manifests/JyLTESZg.m3u8) (2:04)  _Published 2025-03-05. President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, as worries persist that the newly launched trade war could crush domestic manufacturing._ --- Mar 5, 2025 10:20 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Biden Applauds Agreement Reached by UAW and Big Three Automakers](/video/qRvcChCx/) ### Biden Applauds Agreement Reached by UAW and Big Three Automakers [The World's Largest Automakers Asked Trump Not to Loosen a Climate Change Standard. Here's Why](/video/s7RiT6EQ/) ### The World's Largest Automakers Asked Trump Not to Loosen a Climate Change Standard. Here's Why [Mexico and Canada Could Be Exempt From Trump's Tariffs, White House Says](/video/fXcAXavZ/) ### Mexico and Canada Could Be Exempt From Trump's Tariffs, White House Says --- ## Transcript A couple of questions. One, can you confirm that the president held talks with the big three automakers today? Speaking about potentially delaying tariffs. I can confirm and I'm glad that you asked, because the president sent me out here with a statement directly from him on this. I saw it was reported earlier today by Bloomberg News, and he wanted me to share this with all of you. We spoke with the big three auto dealers. We are going to give a one month exemption on any autos coming through Usmca. Reciprocal tariffs will still go into effect on April 2nd, but at the request of the companies associated with Usmca, the president is giving them an exemption for one month. So they are not at an economic disadvantage. So the three companies that he spoke to are Stellantis, Ford and General Motors. They requested the call. They made the ask, and the president is happy to do it. It's a one month exemption. On the reprieve that is being granted to these three automakers for for one month on the tariffs on Canada and Mexico. How did the president settle on one month? The reciprocal tariffs will go into effect on April 2nd. And he feels strongly about that, no matter what. No exemption. Exemption. So that's where the one month come from comes from. Does he expect them to be able to shift production within a month? He told them that they should get on it, start investing, start moving shift production here to the United States of America where they will pay no tariff. That's the ultimate goal. President Trump has made clear that he loves tariffs, but the stock market does not. How does he factor that into his decision making? Well the president does love tariffs. He said it's one of his favorite words in the English dictionary. And he believes in tariffs because they'll ultimately make America rich again. They're going to raise revenue. They're going to help us pay down our debt. Most importantly they're going to bring American jobs here back home. So I think for folks on Wall Street who may be concerned, look at what this president did for you. In his first term. Wall Street boomed, the stock market boomed. The president expects that to happen again. But most importantly, Main Street is going to boom. And that's why the president has this whole of government economic approach, which includes tax cuts, tariffs, regulation cuts and an energy industry that will bring down costs for American consumers. ```json {"@context":"https://schema.org","@type":"VideoObject","name":"‘Big 3’ Automakers Get Brief Reprieve from Trump’s Tariffs","description":"President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, as worries persist that the newly launched trade war could crush domestic manufacturing. 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