Good morning. Earnings season is taking some twists and turns.
General Motors’ Q1 earnings call was scheduled to take place on Tuesday, but the auto giant announced it would be postponed until Thursday, "based on recent reports regarding updates to trade policy.” The White House announced Tuesday afternoon an executive order that provides some tweaks on the 25% tariffs on imported vehicles and auto parts. For example, automakers that pay tariffs on imported cars won't be forced to pay other duties implemented, like steel and aluminum. This year, automakers that manufacture vehicles in the U.S. will get a 15% rebate to offset the cost of the tariffs. That rebate would be 10% the second year.
