Global auto stocks rose Tuesday after the Trump administration agreed to delay imposing new tariffs on Mexico and Canada, offering relief to an industry that relies heavily on both countries for manufacturing.

General Motors, the largest producer of cars in Mexico, won’t provide details on how it would react if President Trump imposes 25 percent tariffs from the two countries.

Shares of the Big Three automakers slumped on Monday in premarket trade as the impact of 25% tariffs on Canada and Mexico hit the companies hard.

The automaker most exposed to tariffs might be Volkswagen, however, given that over 40% of its U.S. sales are produced in Mexico. Even after Trump’s agreement with Sheinbaum, the German manufacturer’s stock was down nearly 4%. On Monday morning, the company said it is currently assessing the potential impact of the tax increase.

General Motors and a few other companies make as much as 40 percent of their North American cars and trucks in Canada and Mexico, leaving them vulnerable to tariffs.

Auto stocks rose Tuesday after the Trump administration agreed to delay imposing new tariffs on Mexico and Canada, offering relief to an industry that relies heavily on both countries for manufacturing.

Here are some of the automaker stocks getting hit the hardest after President Trump's Tariff announcements, but the stock prices are just the start.