General Motors Co. said it suffered a $1.1 billion profit hit from Donald Trump’s tariffs and revealed no plan for a near-term fix to return to pre-tariff profit levels.

General Motors' latest earnings report showed that President Trump's new tariffs on imported cars may have impacted the company's profits. Laila Maidan, a reporter for MarketWatch, joins with more details.

Tariffs hit GM’s operating income by $1.1 billion in the second quarter. The company’s net income of $1.9 billion was down from $2.9 billion in the second quarter of 2024. GM said few of its tariff “mitigation” efforts, such as making more vehicles at its U.S. factories, were fully implemented.