GM's Profits Drop $1.1 Billion Due to Tariffs
General Motors reported that tariffs cost the company about $1.1 billion over three months, reducing profit margins from 9% to 6.1%, with ongoing efforts to offset these costs through manufacturing changes and pricing strategies amid unpredictable U.S. tariff policies. Despite importing vehicles from Korea despite a 25% tariff, GM's stock fell 6% after earnings, highlighting Wall Street's concern over the company's tariff mitigation strategies. Industry-wide, automakers are mostly absorbing tariff costs rather than passing them to consumers, which could impact profitability if trends continue.