Japan, Trump and tariff
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GM said earnings in the second quarter reflect a more than $1 billion hit from President Donald Trump's tariffs.
The American auto manufacturer’s net income fell by 35%, the company said in its second quarter earnings call.
General Motors and other U.S. companies give updates on how much President Trump’s tariffs are impacting them.
The president's trade policies are wreaking havoc on the American auto industry. Another automaker, Stellantis, also reported losses this week.
General Motors' second-quarter core profit fell 32% to $3 billion on Tuesday, as the automaker continued to confront challenging tariff policies, which it said sapped $1.1 billion from the results. The largest U.
GM CEO Mary Barra hasn’t ruled out raising car prices, however, and has said the company will stay competitive.
President Trump said he's considering using money generated by U.S. tariffs on imports to offer a "little rebate" to Americans.
The American automaker reported that tariffs cost them $1.1 billion and reduced the company's profit margin from 9% to 6.1%.