US carmakers rise as Trump to soften auto tariffs

Shares of U.S. carmakers rise before the bell as President Donald Trump says he will reduce impact of auto tariffs

General Motors GM.N up 1.3%, Ford Motors F.N gains 1.1%

Officials said they would reduce impact of duties imposed on foreign parts in domestically manufactured cars and keep tariffs on cars made abroad from stacking up on other duties

The move is expected to be made official on Tuesday

YTD, as of last close, F gains 2.8%, GM falls 11.3% vs S&P 500 index's .SPX 8.9% decline