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GM says second-quarter core profits fell 32% due to Trump’s tariffs

US automaker says it lost $1.1bn in operating income in last quarter and it expects tariff impact to worsen in the third oneGeneral Motors announced Tuesday that Donald Trump’s tariffs knocked $1.1bn off its operating income in its last quarter.The US automaker’s second-quarter core profit fell 32% to $3bn and said it expects the tariff impact to worsen in the third quarter. The company stuck to a previous estimate that trade headwinds threaten to hit the bottom line by $4bn to $5bn. GM said it could take steps to mitigate at least 30% of that impact. Continue reading...

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