General Motors reported a significant profit drop in Q2 due to $1.1bn in trade tariffs impact. Net income decreased by over a third to $1.9bn despite higher global unit sales. Quarterly revenues were $47.1bn, down from $48bn last year with adjusted EBIT at $3bn, compared to $4.4bn. CEO Barra highlighted $4 billion investment in US assembly plants for high-margin vehicles. GM left 2025 guidance unchanged with a projected tariff impact of $4-$5bn. They are making progress to mitigate at least 30% of this impact through various initiatives.

Read more at Yahoo Finance: General Motors profit takes a tariffs tumble