Lates News

Only two days after rescinding profit guidance, General Motors lowered its full-year profit outlook, citing up to $5 billion in exposure to the auto tariffs imposed by U.S. President Donald Trump. The company stated that it now expects pre-tax profits to fall between $10 billion and $12.5 billion, lower than the initial guidance of up to $15.7 billion in January. According to a letter from CEO Mary Barra to shareholders, the reason for this adjustment is the company's exposure to tariff risks. Despite Trump's previous announcement to reduce tariffs on some imported cars and parts, General Motors has lowered its guidance, stating that it anticipates a profit impact this year unless trade agreements are reached with key auto trading partners to reduce exposure.