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GM profit hurt by over $1B in tariffs — and shares tumble as impact expected to worsen
GM CEO Mary Barra hasn’t ruled out raising car prices, however, and has said the company will stay competitive.
Wall Street ticks up to another record as GM and others show how tariffs are impacting them
General Motors and other U.S. companies give updates on how much President Trump’s tariffs are impacting them.
Tariffs hit U.S. companies hard, but businesses absorb them for now
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.
Trump tariffs take a $1 billion bite out of GM earnings; shares fall
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.
GM’s $1.1 billion tariff hit bolsters mounting evidence that Americans are the ones footing the bill for Trump’s import taxes
General Motors is the latest U.S. auto giant to say tariffs have taken a chunk from their earnings. The company beat earnings expectations on Tuesday, but reported a decline in second-quarter profits, including a $1.1 billion hit as a result of hefty import taxes.
GM profit shrinks despite stronger sales
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.
GM reports massive profit loss due to Trump's destructive tariff war
The president's trade policies are wreaking havoc on the American auto industry. Another automaker, Stellantis, also reported losses this week.
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