GM is first big company to put price tag on tariffs

CEO Mary Barra put a price tag on what her company will pay.

Transcript

00:00General Motors is the first big company to put a price tag on President Trump's tariffs.

00:04In an interview with CNN, CEO Mary Barra said tariffs on imported cars would cost GM between

00:09$4 and $5 billion this year. However, in what will be welcome news to customers,

00:14she said that doesn't necessarily mean car prices are going up.

00:18In the interview, Barra said,

00:19We believe pricing is going to stay at about the same level as it is.

00:22Pricing changes in our industry at least monthly and sometimes more frequently.

00:26We're going to respond to the market.

00:28General Motors is facing several tariffs when it comes to importing cars and car parts.

00:32It makes about 1 million vehicles in Canada and Mexico, according to S&P Global Mobility.

00:37It also imported more than 400,000 vehicles from South Korea last year

00:40and imported car parts for roughly 2 million vehicles.

00:44GM is the largest of the American automakers, selling 2.7 million cars and trucks in the U.S.

00:49in 2024. That'll do it for your daily briefing.

00:51From New York City, I'm Kelsey Barberio with The Street.