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

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.

After an outcry from Detroit, President Donald Trump has granted one-month tariff exemptions on most auto imports from Canada and Mexico, underscoring the continued clout of US carmakers.

General Motors (GM) shares ended the last trading session 7.2% higher at $48.48. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.