The fallout from U.S. President Donald Trump's trade war reverberated further through the corporate world on Tuesday, as delivery giant UPS said it would cut 20,000 jobs to lower costs, while General Motors pulled its outlook and pushed its investor call to Thursday pending possible changes to trade policy.

The tariffs imposed by President Trump continue to have ripple effects across the globe as major companies announce business shifts.

U.S. automakers are set to get a break on some of the sweeping tariffs President Donald Trump is imposing. Yet even with the new waivers, the outlook for America's longest-lived carmakers remains cloudy, with General Motors saying Tuesday it was "reassessing" its earnings guidance in light of the uncertainty over the tariffs impact.

General Motors cheered on President Donald Trump for working with the company to refine auto tariffs, but warned that sustained protectionist policies could “significantly” hurt the industry down the road.

General Motors Co. is pulling earnings guidance for 2025 and putting $4 billion in share buybacks on hold until it has more clarity on the impact of US tariffs.

General Motors said Monday it would withdraw guidance it had previously issued over its potential profits this year because of President Trump’s tariffs, which have sparked uncertainty in the auto

General Motors reported first-quarter results before market open Tuesday but has postponed its call with analysts until Thursday.

General Motors warned that Trump’s tariffs could raise costs and create uncertainty, leading the company to pull its 2025 financial forecast.

US President Donald Trump is set to take action to ease the impact of new tariffs on the auto industry, which had sparked warnings about higher prices and the potential for significant hits to sales and production.