General Motors Corp., after a series of twists and complications, received final approval to go racing in Formula One in 2026.

What Happened? Shares of automotive manufacturer General Motors (NYSE:GM) jumped 8.2% in the mid-day session after the Trump administration announced a one-month delay for tariffs on automakers whose cars comply with the United States-Mexico-Canada Agreement.

The stock market surged on Wednesday after the Trump administration granted automakers a one-month exemption from tariffs imposed a day earlier. The Dow Jones Industrial Average closed the trading session up nearly 500 points, or 1.1%, while the S &P 500 also jumped 1.1%. The tech-heavy Nasdaq increased nearly 1.5% on Wednesday.

U.S. stocks climbed after President Trump pulled back on some of his tariffs, raising hopes he may avoid a worst-case trade war that grinds down economies and sends inflation higher.