The United States may temporarily pause tariffs previously imposed on the automobile sector, AP reported on Tuesday.

The move considers automakers need for time to shift production to the US, said the report.

The financial market has been greatly impacted by the US tariff policies, and the recent policy changes have fueled a sense of uncertainty and confusion about US policymaker's intentions and end goals, according to the report.

It may also lead to a possible recession of the world economy, with Wall Street economists expressing deep concern, the report said.

US automobile professionals realize that broad tariffs on auto parts could undermine the development of the American auto industry, according to Matt Blunt, president of American Automotive Policy Council.