The President has delayed imposing tariffs on foreigns cars and vehicle parts for at least three months.
Those tariffs would have impacted Europe and Japan especially hard.
Trump has made it clear that any final decision on the matter hinges on trade negotiations between the United States and the European Union.
The president believes imports of automobiles and certain parts threaten to impair U.S. national security.
The delay is a reprieve of sorts for German and Japanese cars makers and it comes as markets continue grappling with Trump’s decision to ramp up tariffs on Chinese imports.