GM says Trump tariffs knocked $1.1bn off its operating income last quarter

US automaker's second-quarter core profit fell 32% and it expects tariff impact to worsen in the third quarter

General 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.