American consumers have been facing the reality of President Donald Trump's on-again, off-again import tariffs. Threatened since his 2024 campaign and started in earnest earlier in the year, the president laid out a much broader import tax plan on April 2.

Shares of General Motors Co., Ford Motor Co. and Jeep parent Stellantis briefly spiked in after-hours trading Wednesday in the wake of a report that President Donald Trump plans to spare automakers from some tariffs.

President Trump is considering tariff exemptions for car parts from China, following industry lobbying, while maintaining duties on imported steel, aluminum, and foreign-made cars. The 25% tariff on foreign-imported car parts is expected to continue,