GM

President Trump announced via Truth Social that tariffs on European cars and trucks entering the US will increase to 25% next week, citing insufficient progress on a trade deal. US stocks dipped modestly on the news but remained in positive territory, while the US dollar moved slightly higher. The announcement comes in the context of a Supreme Court ruling that prior tariffs were unconstitutional, with an estimated $160 billion repayment liability.

GM CEO Mary Barra acknowledged that the Iran conflict is contributing to cost increases for the automaker, but noted that vehicle mix and customer spending have remained healthy so far. The company is actively monitoring consumer behavior for any signs of demand softening. High-priced vehicles continue to sell, suggesting no immediate deterioration in GM's revenue mix.