GM Slashes Profit Forecast Due To 25% Auto Tariffs

The New York Times reports:

General Motors cut its profit forecast for 2025 on Thursday by more than 20 percent and said that the Trump administration’s tariffs would increase its costs by $4 billion to $5 billion this year.

In a conference call with analysts, G.M. executives said the company now expects to make $8.2 billion to $10.1 billion this year, down from a previous forecast of $11.2 billion to $12.5 billion.

“G.M.’s business is fundamentally strong as we adapt to the new trade policy environment,” the company’s chief executive, Mary T. Barra, said. In April, President Trump imposed tariffs of 25 percent on imported vehicles and will begin imposing the same duty on imported auto parts on Saturday.

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GM cuts 2025 profit forecast as automaker expects up to US$5-billion impact tariff hit https://t.co/TtuFDTwHBf

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