U.S. stocks climbed Wednesday after President Donald Trump pulled back on some of his tariffs temporarily. The move revived hope on Wall Street that Trump may avoid a worst-case trade war that grinds down economies and sends inflation higher. The S&P 500 rose 1.1% to bounce back from a sell-off that had erased all of its “Trump bump ″ since Election Day. The Dow Jones Industrial Average climbed 485 points, or 1.1%, and the Nasdaq composite gained 1.5%. The market turned sharply higher after Trump said he’s granting a one-month exemption for U.S. automakers on his stiff new tariffs for Mexican and Canadian imports. Trump made the move after talking with Ford, General Motors and Stellantis, which owns Chrysler. All of the Big Three automakers could have been hurt by such tariffs because of how much production happens across the countries. Trump’s announcement sent relief through Wall Street, and Ford’s and General Motors’ stock both jumped more than 5% to help lead a widespread rally...
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