GM chief Mary Barra. Photo: Jeff Kowalsky/Bloomberg
General Motors cut its full-year profit outlook citing as much as $5bn (€4.4bn) of exposure to auto tariffs, among the biggest financial hits revealed by any company so far from US president Donald Trump’s trade war.
The automaker now expects earnings before interest and taxes to fall into a range of $10bn to $12.5bn, down from its initial guidance in January of as much as $15.7bn. The reason, according to a letter to shareholders from chief executive Mary Barra, is the toll from tariffs.
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