For months, automakers have been taking a “wait-and-see” approach to the Trump administration’s potential tariffs.

Manufacturers from Asia, Europe and elsewhere have poured billions into North American supply chains that could be hit by new taxes on Mexico, Canada and China.

The dollar was edging higher against a basket of currencies, recovering modestly after falls the previous day following weak U.S. gross domestic product data. Markets turn cautious ahead of possible announcements by President Trump on tariffs,