General Motors cut its 2025 profit forecast on Thursday after receiving some clarity and a reprieve from the White House this week on automotive tariffs. Sheryl Peña has more.

The automaker postponed its full-year guidance until after President Trump announces his revised tariff structure.

The Trump administration’s tariffs on imported cars and auto parts will cost General Motors between $4 billion and $5 billion this year, as the nation’s largest automaker slashed its earnings projections.

General Motors (GM) and Ford (F) say consumers shouldn’t expect immediate price hikes on cars, even as the companies brace for the financial hit from President Trump’s newly clarified tariffs on imported autos and parts.

The impact of President Donald Trump’s tariffs could cost General Motors up to $5 billion this year. In a letter issued to shareholders Thursday, the Detroit-based automaker lowered its 2025 profit projections to reflect the anticipated impact of the tariffs.

General Motors' Oshawa Assembly plant in Canada, which builds pickup trucks, will cut back to a two-shift schedule from three due to softening demand and trade-related challenges, the company and the union representing workers said on Friday.

A General Motors Co. assembly plant in Canada that makes pickup trucks mostly for export to the US will cut down to two shifts from three because of the trade war.