“They Need A Little Bit Of Time”: Auto Stocks Pop On Trump Tariff Comments; But Deutsche Still Cautious
Auto stocks popped Monday after President Trump said he wants to “help some of the car companies” affected by the new 25% tariffs, acknowledging they “need a little bit of time” to shift production to the U.S. Automakers like GM surged higher on the news. Ford, GM, and Stellantis jumped 3–6%, Rivian rose 4.9%, and Tesla held flat. Japanese and EV makers like Toyota, Honda, and Lucid saw gains of 1.5–2%. “I’m looking for something to help some of the car companies, where they’re switching to parts that were made in Canada, Mexico and other places… But they need a little bit of time,” Trump said during a meeting with El Salvador’s president, according to CNBC. A senior industry executive called Trump’s remarks “some recognition that this is getting tough for the industry.” Despite recent tariff relief for tech firms like Apple, the auto levies remain. Carmakers are adapting in different ways. Ford and Stellantis launched employee pricing deals, Jaguar Land Rover halted U.S. shipments, and Hyundai pledged no price hikes for two months. GM is …