Trump earlier this week issued what he's characterised as relief for automakers by lowering some levies on imported vehicles and parts. Even so, GM expects a hit to profit this year unless trade deals are cut that would reduce the automaker's exposure.
General Motors Co. cut its full-year profit outlook due to as much as US$5 billion ($6.53 billion) of exposure to auto tariffs, among the biggest financial hits revealed by any company so far from President Donald Trump's trade war.
The automaker now expects earnings before interest and taxes to fall into a range of US$10 billion to US$12.5 billion, down from its initial guidance in January of as much as US$15.7 billion.
