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GM, Ford shares rise after US initiates investigation into auto imports

May 24, 2018


Domestic auto stocks rose Thursday after the U.S. Department of Commerce started an investigation into automobile imports.

The government is looking into whether the imports “threaten to impair the national security” of the United States. It will be carried out under Section 232 of the Trade Expansion Act of 1962, the agency said in a statement on Wednesday.

President Donald Trump asked Commerce Secretary Wilbur Ross to carry out the probe.

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