The Trump administration will exempt U.S. automakers from new tariffs on Canadian and Mexican imports for one month, the White House said Wednesday—as the 25% levies imposed Tuesday could potentially lead to price hikes on a range of imported goods,

The Trump administration will make an announcement later on Wednesday regarding U.S. tariffs imposed on Canada and Mexico as President Donald Trump weighs potential relief for some sectors such as automobiles,

As Canada and Mexico make plans for reciprocal tariffs on U.S. goods, Canadian Prime Minister Justin Trudeau calls President Trump's move "a very dumb thing to do."