Tariffs hit GM’s operating income by $1.1 billion in the second quarter. The company’s net income of $1.9 billion was down from $2.9 billion in the second quarter of 2024. GM said few of its tariff “mitigation” efforts, such as making more vehicles at its U.S. factories, were fully implemented.

General Motors' latest earnings report showed that President Trump's new tariffs on imported cars may have impacted the company's profits. Laila Maidan, a reporter for MarketWatch, joins with more details.

General Motors Co. said it suffered a $1.1 billion profit hit from Donald Trump’s tariffs and revealed no plan for a near-term fix to return to pre-tariff profit levels.