General Motors Forecasts $5 Billion Tariff Hit from Trump Trade Policies

General Motors (GM), the world’s largest automaker, anticipates that tariffs imposed by former President Trump will cost the company between $4 billion and $5 billion in 2023. This economic impact stems from increased import costs for vehicles and parts due to these duties. CEO Mary Barra’s letter revealed this shift in financial projections to shareholders on Thursday, with a revised earnings expectation of $10 billion to $12.5 billion for the year.