US President Donald Trump indicated that he would impose auto tariffs in the coming days, alongside a possibility of granting exemptions for some countries based on reciprocal tariffs. The comments triggered a sharp rebound in the US stock markets as investors expected a softened tariff stance.

U.S. President Donald Trump said on Monday he will in the very near future announce tariffs on automobiles, aluminum and pharmaceuticals. Speaking to reporters at the White House, Trump said the United States would need all those products if there were problems including wars.