GM, Trump and tariff
Digest more
GM, tariffs
Digest more
The tariff on imported Japanese cars has been cut to 15%, down from 25%, in a deal announced by President Donald Trump.
General Motors had a more than $1 billion chunk taken out of its profits due to tariff costs, the company reported on Tuesday. GM, as well as other automakers like Stellantis, have contributed to evidence indicating American companies and consumers—not exporters—are the ones paying for tariffs.
12h
The New Voice of Ukraine on MSNTrump tariffs cost GM $1.1B in Q2, company eyes supply chain overhaul
Despite the setback, GM’s leadership remains optimistic, forecasting continued growth, particularly in the electric vehicle segment. CEO Mary Barra and CFO Paul Jacobson acknowledged that the tariffs had a significant impact on profitability,
General Motors said tariffs slashed its second-quarter income by more than $1 billion, and other companies pointed to import duties to explain smaller profits.
General Motors' second-quarter earnings took a $1.1 billion hit from tariffs, but the automaker still beat analyst expectations for the period, supported by strong sales of its core gasoline trucks and SUVs.
Automaker General Motors posted a 12% sales gain through the first half of year while working to mitigate the effects of President Donald Trump's tariffs.