GM thanks Trump for the $5 billion tariff hit it expects to take

is transportation editor with 10+ years of experience who covers EVs, public transportation, and aviation. His work has appeared in The New York Daily News and City & State. General Motors CEO Mary Barra kicked off her Q1 letter to shareholders by thanking “President Trump for his support of the U.S. automotive industry.” Several paragraphs later, things take a turn, with Barra projecting an impact of $4 billion to $5 billion as a result of Trump’s ever-changing tariffs. Barra’s letter was evidence of the delicate line the automaker needs to tread in order to placate the president while also assuring investors that it can weather the financial storm ahead. And in that respect, GM says it has a lot of evidence in its favor. It’s revenue is up 2 percent year over year, and its making more progress in improving the profitability of its electric vehicle lineup. In that respect, Barra declared that GM had “solidified” its position as the number two seller of EVs in the US, behind Tesla. ... Read full article.