GM CEO Mary Barra put a price tag on what her company will pay.
Transcript:
General Motors is the first big company to put a price tag on President Trump’s tariffs. In an interview with CNN, CEO Mary Barra said tariffs on imported cars would cost GM between $4 and $5 billion this year.
However, in what will be welcome news to customers, she said that doesn’t necessarily mean car prices are going up.
In the interview Barra said, “We believe pricing is going to stay at about the same level as it is. Pricing changes in our industry at least monthly, and sometimes more frequently. We’re going to respond to the market.”
General Motors is facing several tariffs when it comes to importing cars and car parts. It makes about 1 million vehicles in Canada and Mexico, according to S&P Global Mobility. It also imported more than 400.000 vehicles from South Korea last year, and imported car parts for roughly 2 million vehicles.
GM is the largest of the American automakers, selling 2.7 million cars and trucks in the U.S. in 2024.
That’ll do it for your daily briefing. From New York City, I’m Kelsey Barberio with TheStreet.
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