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The Guardian - US
The Guardian - US
Business
Michael Sainato and agencies

GM says Trump tariffs knocked $1.1bn off its operating income last quarter

GM Donald Trump United States General Motors
a person looks at a shiny red car
Final inspection is performed on vehicles on the assembly line at the General Motors manufacturing plant in Spring Hill, Tennessee, in 2019. Photograph: Harrison McClary/Reuters

General Motors announced on Tuesday that Donald Trump’s tariffs knocked $1.1bn off its operating income in its last quarter.

The US automaker’s second-quarter core profit fell 32% to $3bn and said it expected the tariff impact to worsen in the third quarter. The company stuck to a previous estimate that trade headwinds threaten to hit the bottom line by $4bn to $5bn. GM said it could take steps to mitigate at least 30% of that impact.

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