President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers.

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, from food and alcohol to lumber.

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.

As U.S. President Donald Trump's new trade tariffs on China, Mexico and Canada kick off, sparking another trade war, countries in Asia's complex and integrated global supply chain are in the crosshairs.

During the National People’s Congress on March 5, the Chinese Communist Party remained defiant against President Donald Trump’s tariffs and refused to give ground in an escalating trade war.

United States President Donald Trump doubled the tariff on Chinese imports, bringing that rate to 20%. China retaliated by announcing 15% tariffs on various imports from the US.

U.S. President Donald Trump will tell the U.S. Congress on Tuesday that he is working to end the Russia-Ukraine war, according to excerpts from his speech released by the White House. Trump also said that later this week he will announce an expansion of production of critical minerals and rare earths in the United States,

US President Donald Trump has long said he would negotiate a quick end to Russia’s war in Ukraine. In pursuit of a deal, the US has engaged with the Kremlin while pressuring Kyiv to support the peace initiative.

President Donald Trump said he received a letter from Ukrainian President Volodymyr Zelenskiy expressing willingness to come to the negotiating table.