Japan, Trump and Tariff
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1hon MSN
GM reported a $1.1 billion hit from President Trump’s tariffs this quarter. CEO Mary Barra says automation focus is on factory efficiency, not AI cars. Piper Sandler said GM needs strategic changes to compete in the AI era.
GM CEO Mary Barra hasn’t ruled out raising car prices, however, and has said the company will stay competitive.
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The New Voice of Ukraine on MSNTrump tariffs cost GM $1.1B in Q2, company eyes supply chain overhaulDespite the setback, GM’s leadership remains optimistic, forecasting continued growth, particularly in the electric vehicle segment. CEO Mary Barra and CFO Paul Jacobson acknowledged that the tariffs had a significant impact on profitability,
General Motors' second-quarter earnings took a $1.1 billion hit from tariffs, but the automaker still beat analyst expectations for the period, supported by strong sales of its core gasoline trucks and SUVs.
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.