General Motors (GM) and Ford (F) say consumers shouldn’t expect immediate price hikes on cars, even as the companies brace for the financial hit from President Trump’s newly clarified tariffs on imported autos and parts.

President Donald Trump’s reprieve for automotive parts tariffs is helpful, but still not enough to help with growing the U.S. auto industry, Ford Motor CEO Jim Farley said Wednesday.

Ford Chief Executive Jim Farley said Wednesday that President Trump’s tariff changes help but don’t go far enough. On Tuesday, President Trump announced [changes to tariffs on auto parts that go into