By Christoph Steitz, Marie Mannes, Kalea Hall, Lisa BaertleinFRANKFURT/STOCKHOLM/DETROIT/LOS ANGELES (Reuters) -The fallout from U.S. President Donald Trump's trade war reverberated further through the corporate world on Tuesday,

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 (GM) withdrew its full-year outlook with the American automaker's CFO Paul Jacobson stating, "The future impact of tariffs could be significant." TD Cowen equity analyst Itay Michaeli joins Catalysts host Madison Mills and Explosive Options technical analyst Bob Lang to take a closer look at GM's first quarter earnings print and discuss auto tariff relief measures that US President Trump is expected to announce later on Tuesday.

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.