Stellantis is thanking the Trump administration for giving it a one-month exemption from tariffs on Canada and Mexico, saying it aims to build more cars in the U.S.

European automakers' shares jumped on Thursday after U.S. President Donald Trump gave carmakers a one-month reprieve from his punishing 25% tariffs on Canada and Mexico, with Chrysler-to-Fiat maker Stellantis pledging more American-made cars.

Stellantis thanks Trump for a one-month tariff exemption, gaining time to boost U.S. production amid declining sales and rising costs.

Auto makers have been warning that Trump’s tariffs would increase the cost of manufacturing, auto parts, and car prices.

Stellantis has told its U.S. dealers the 25% tariffs on products from Mexico and Canada will put the carmaker at a disadvantage against its Asian and European peers, an email sent to its retailers showed on Tuesday.

MILAN (Reuters) -Automaker Stellantis said on Thursday it shared U.S. President Donald Trump's goal of building more cars in the United States, as it thanked him for granting a one-month exemption from tariffs on Canada and Mexico.

President Donald Trump has delayed tariffs on automobile imports from Canada and Mexico for one month after requests from executives at the Big Three

A possible 25 percent levy on goods from Canada and Mexico is likely to raise the prices consumers pay for new cars and trucks, and disrupt complex supply chains.

The Franco-Italian-U.S. group argued that Trump's administration should avoid implementing tariffs that would disproportionately hit automakers that build most of their vehicles in the U.S., including the 25% duties on Mexico and Canada that are poised to go into effect in early March.

President Trump is exempting automakers from newly imposed tariffs on Mexico and Canada for one month, the White House said Wednesday, as a temporary reprieve following pleas from industry leaders.

President Trump on Wednesday announced a one-month exemption on tariffs against Canada and Mexico for cars following a meeting with the three major U.S. automakers. Trump spoke with the leaders of

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.