Trump tariffs bite into GM 2018 profit forecast, stock falls
Updated : July 26, 2018 06:25 AM IST
The No. 1 US automaker said it would be able to partially offset higher commodity costs and the unfavorable effect of currency fluctuations in Brazil and Argentina, but they would have a net impact of around $1 billion on the company's full-year results.
GM chief financial officer Chuck Stevens told reporters that the automaker had put in a "solid performance" in the second quarter "despite some fairly significant headwinds that have built throughout the year."
The automaker said its full-size pickup truck plants are still running at more than 100 percent capacity as they try to keep up with demand.
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