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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.
Trump tariffs bite into GM 2018 profit forecast, stock falls
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