General Motors Corp., after a series of twists and complications, received final approval to go racing in Formula One in 2026.

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.

After an outcry from Detroit, President Donald Trump has granted one-month tariff exemptions on most auto imports from Canada and Mexico, underscoring the continued clout of US carmakers.

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.

President Donald Trump on Thursday paused tariffs on some products from Mexico and Canada, temporarily withdrawing major portions of a policy issued two days earlier. The one-month exemption will lift tariffs for all Canadian and Mexican goods compliant with 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.

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.

WASHINGTON — President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, amid fears that the trade war could harm U.S. manufacturers.

The White House said President Trump has given automakers a one-month reprieve from tariffs on imports from Canada and Mexico.