President Donald Trump agreed to delay tariffs for one month on some vehicles built in North America after a call with the CEOs of General Motors and Ford, the White House said Wednesday. The automakers had urged Trump to waive 25% tariffs on Mexico and Canada on vehicles that comply with the 2020 U.

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

President Donald Trump decided to give Ford, General Motors and Stellantis a one-month tariff exemption. The move comes a day after Trump enacted harsh tariffs on products from Canada and Mexico.

This announcement comes after Trump had a meeting Wednesday with the leaders of Ford, General Motors, and Stellantis.

President Donald Trump held a call Tuesday with the CEOs of General Motors and Ford and the chair of Stellantis to discuss the potential of delaying tariffs

General Motors (GM) shares ended the last trading session 7.2% higher at $48.48. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.

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.

The announcement came one day after Trump imposed 25% taxes — or tariffs — on Mexican and Canadian imports, which experts worried would hamstring Michigan's auto industry.

The president said he would pause a 25 percent tariff on cars coming from Canada and Mexico under a trade pact for one month, while other levies stay in place.

Auto manufacturing — a staple of the Michigan economy for generations — represents one of the industries most vulnerable to international competition during U.S.-imposed tariffs, experts say.

The Trump administration has postponed tariffs for U.S. automakers by one month, while keeping the rest of 25 percent tariffs imposed Tuesday on Mexico and Canada.