The Trump administration’s tariffs on imported cars and auto parts will cost General Motors between $4 billion and $5 billion this year, as the nation’s largest automaker slashed its earnings projections.

The Trump administration’s tariffs on imported cars and auto parts will cost General Motors between $4 billion and $5 billion this year

America’s largest automaker, General Motors (GM) says tariffs on imported cars imposed by the Trump administration will this year cost the company between $4 billion and $5 billion. CEO Mary Barra told CNN in an interview that the company has downsized its earnings guidance as the tariffs will eat into its profitability.