President Donald Trump claimed that his tariffs have saved General Motors, but GM’s regulatory filings show the import taxes will cost the company between $2.5 billion and $3.5 billion this year. Trump made the remarks during a visit to a GM facility in Michigan and in a Fox News interview, while GM’s July 21 SEC filing revealed the projected tariff hit. The other two Detroit automakers are also bracing for significant charges, with Ford expecting $1 billion and Stellantis projecting about $1.5 billion in 2026. GM has raised its 2026 profit outlook to between $14 billion and $16 billion and plans to spend at least $6 billion to expand domestic production of full-sized trucks and SUVs.
General Motors CompanyTrump claims tariffs saved GM, but GM faces $2.5-3.5B in tariff costs; raised profit outlook and plans domestic expansion.
Ford Motor CompanyFord expects $1 billion in tariff costs in 2026.
Stellantis NVStellantis projects about $1.5 billion in tariff costs in 2026.