GM profits take $1.1 billion hit in wake of Trump tariffs

Breakdown

• GM reported a $1.1 billion loss due to tariffs.
• 60% of Americans oppose new U.S. tariffs, according to a CBS News poll. 5s
• Stellantis reported a $2.7 billion loss, also citing tariffs as a major factor. 37s
• Automakers have not yet passed increased costs to consumers, instead absorbing losses. 1m 52s
• A new trade deal with Japan will lower tariffs on Japanese vehicles, potentially affecting competition for U.S. automakers. 2m 10s