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General Motors CFO: Agility is a key strength as tariffs deliver $1.1 billion hit in Q2
General Motors ( No. 18 on the Fortune 500) reported its Q2 earnings results on Tuesday. The company’s net income fell 35% from the same period last year, as higher costs and uncertainty surrounding the Trump administration’s automotive tariffs resulted in a $1.1 billion hit to its bottom line.
EU to submit countermeasures on US goods to avert looming tariffs
The European Commission plans to submit counter-tariffs on 93 billion euros ($109 billion) of U.S. goods for approval to EU members, while its trade chief will hold talks with U.S. Commerce Secretary Howard Lutnick.
Tariffs and Conflicts Loom Large Over Merz and Macron's Working Dinner
BERLIN (Reuters) -German Chancellor Friedrich Merz will host French President Emmanuel Macron for talks over dinner in Berlin on Wednesday, with Europe's battle to soften incoming U.S. tariffs and support for Ukraine expected to top a packed agenda.
Tariffs hit U.S. companies hard, but businesses absorb them for now
General Motors said tariffs slashed its second-quarter income by more than $1 billion, and other companies pointed to import duties to explain smaller profits.
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Tariffs Poke Their Heads Up With $1.1 Billion Profit Impact For GM
The impacts will be felt more broadly in many industries, and the question is when the choice becomes to preserve profits by raising prices.
Americans are mostly paying for tariffs — and price rises may be on the way, says Deutsche Bank
People overseas have so far paid very little for tariffs, with Americans bearing the brunt of the cost, per Deutsche Bank.
SSAB posts profit miss as tariffs shake European steel market
SSAB's earnings fell more than expected in the second quarter, hit by lower steel prices and a weakening European market due to tariff-driven uncertainty, the Swedish steelmaker said on Wednesday, sending its shares more than 7% lower.
Both targets of Trump’s tariffs, the EU and China still can’t get along
As the two biggest economic targets in Donald Trump’s trade war, some analysts thought the European Union and China could move closer together and stake out common ground.
SAP CEO warns of tariffs impacting US public sector, manufacturers
Shares of SAP (NYSE:SAP) fell about 4% premarket on Wednesday following the company's second quarter results and outlook, while CEO Christian Klein warned about the U.S. public sector and manufacturers impacted by tariffs.
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