The Trump administration will exempt U.S. automakers from new tariffs on Canadian and Mexican imports for one month, the White House said Wednesday—as the 25% levies imposed Tuesday could potentially lead to price hikes on a range of imported goods, from food and alcohol to lumber.

President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers.

President Donald Trump has agreed to exempt automobiles from newly imposed tariffs on imports from Canada and Mexico for the next month.