GM’s $1.1 billion tariff hit bolsters mounting evidence that Americans are the ones footing the bill for Trump’s import taxes

Mary Barra gestures and speaks in front of a black background. (Credit: Kayla Bartkowski—Getty Images)

• 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.

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.