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From CNN, I'm Josh and Shana, with the five things you need to know for Wednesday, March 5th.

US stocks rose today after the Trump administration announced it would grant a one-month exemption for tariffs on Canada and Mexico that affect automakers.

In a statement read by White House press secretary, Caroline Levitt, President Trump said he'd reached this decision after speaking with the big

three auto dealers, Stalantis, Ford, and General Motors.

U.S. stocks surged after the announcement, with the Dow and S&P 500, jumping 1.14 and 1.12

respectively. Here's CNN's Jeff Zellini on what caused Trump to row back.

This is the second straight day that the president has spoken with the automakers.

Really, the White House has been fielding just a series of calls from business leaders,

Republican lawmakers and others sounding the alarm about what this could do to the economy.

And we saw what it's been doing to the stock market.

We know this is a metric the president watches very, very carefully.

So that is why we were told a one month reprieve was indeed put in place.

The broader question is why one month?

What can companies do over a month to change how they're doing business?

That is sort of unclear. There may be a thawing in the relationship between the U.S. and Ukraine after last Friday's

disastrous Oval Office news conference. Today, Ukrainian President Vladimir Zelensky,

in his daily address, sounded a positive note.

...