GM Pours Cold Water Over Trump’s Tariff Claims With New Prediction
Mihai Prelipcean
The sweeping car and auto part tariffs that President Trump claims will revitalize the domestic industry will cost one of its biggest companies millions of dollars. General Motors CEO Mary Barra estimated that Trump’s tariffs will cost the company between $4 and $5 million of revenue this year, in a letter sent to shareholders Thursday. The company has lowered its profit goal in response. This comes as Trump actually retreated from the much more aggressive tariffs he had originally planned for
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