Trump’s Tariffs Boost Auto Stocks as GM and Ford Execs Express Gratitude

President Trump's new 25% import duty on vehicles, set to take effect November 1, has already sent shockwaves through the auto industry. General Motors and Ford executives reportedly thanked the administration for the tariffs, citing immediate stock surges. GM shares jumped 14% in early Tuesday trading, now up 24% year-to-date and 35% over the past twelve months.

The tariff strategy aims to pressure foreign truck manufacturers to increase US production, with TRUMP claiming results are materializing faster than anticipated. GM CFO Paul Jacobson acknowledged the financial impact, stating tariffs have 'stabilized' after initial disruptions. The automaker is leveraging its pandemic-era resilience playbook to mitigate costs and potentially turn tariffs into an advantage.

Trade developments with South Korea and potential relief talks involving Mexico and Canada signal the administration's focus on strengthening domestic auto manufacturing. Wall Street's bullish response suggests markets view the protectionist measures as net positive for US automakers in the NEAR term.