Trump Tariffs Cut $1 Billion from GM’s Q2 Profits; Shares Slump

Cheddar News

General Motors reported a 32 % decline in second-quarter core profit, citing a $1.1 billion hit from U.S. tariffs implemented under former President Trump.

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00:00General Motors reported a 32% decline in second quarter core profit,

00:04citing a $1.1 billion hit from U.S. tariffs under President Trump.

00:09Revenue slipped nearly 2% to around $47 billion,

00:13with GM stock dropping about 3% in pre-market trading.

00:17The company anticipates further tariff pressure in Q3

00:20and also forecasts a full-year hit of $4 to $5 billion,

00:25though the company aims to counter roughly 30% of the impact

00:28through pricing, cost adjustments, and renewed investment

00:32in U.S. combustion engine production.

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Trump Tariffs Cut $1 Billion from GM’s Q2 Profits; Shares Slump

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Trump Tariffs Cut $1 Billion from GM’s Q2 Profits; Shares Slump