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G.M. Withdraws Profit Forecast as Trump Tariffs Take a Toll
General Motors is abandoning a previous forecast for solid profit growth this year as a result of the uncertainty created by President Trump’s trade policies, the automaker said on Tuesday. The Trump administration imposed a 25 percent tariffs on imported cars this month and has said it will impose a 25 percent duty on imported parts on Saturday.
GM CFO Paul Jacobson told reporters on a call that the company would not comment on the exact cost incurred from tariffs.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions ...
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GM’s initial full-year guidance was for net income between $11.2 billion and $12.5 billion and adjusted earnings between $11 ...
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