The Trump administration reportedly plans to delay slapping tariffs on autos by up to 6 months

Reuters/Rebecca Cook

A Ford Motor assembly worker works a 2018 F150 pick-up truck during the 100 year celebration of the Ford River Rouge Complex in Dearborn, Michigan.

• The Trump administration plans to delay auto tariffs by up to six months, according to multiple news outlets.
• The reports sent shares of Ford, General Motors, Tesla, and Daimler higher on Wednesday.
• Visit Markets Insider for more stories.

The Trump administration plans to delay auto tariffs by up to six months, multiple news outlets reported on Wednesday, citing anonymous sources. The reports sent auto stocks higher on Wednesday.

President Donald Trump is expected to delay tariffs on auto imports, Bloomberg initially reported, citing US officials. Reuters and CNBC later reported the same plan was expected, citing three administration officials and four sources, respectively.

The headlines sent shares of Ford, General Motors, Tesla, and Daimler higher in midday trading.

Wednesday's report comes at a tense moment for US-China relations as the trade war between the two world powers escalated this week.

This story is developing. Check back for updates.

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