General Motors reported strong first-quarter financial results, earning $2.78 billion, or $3.35 per share, with revenue increasing to $44.02 billion from $43.01 billion. Despite this performance, GM plans to reassess its 2025 financial outlook due to the uncertain impact of auto tariffs. The company postponed its conference call to better understand potential changes in tariff policies, as President Trump may reduce tariffs on foreign-made cars and parts. These tariffs have significantly affected Michigan, a critical state for the auto industry, where unemployment has risen to 5.5%. Industry groups have warned that continued tariffs could increase car prices and lead to layoffs and bankruptcies in the sector.

General Motors earned $2.78 billion, or $3.35 per share, in the first quarter, surpassing Wall Street expectations of $2.68 per share, with revenue increasing to $44.02 billion, up from $43.01 billion the previous year.

Despite strong quarterly results, GM will reassess its 2025 financial expectations due to the potential impact of auto tariffs, which were not included in their initial full-year forecast.

President Trump is reportedly considering reducing tariffs on foreign-made cars and parts, which could ease some of the economic pressures on the U.S. auto industry.

The state of Michigan, a key area for the auto industry and a battleground state in Trump's election, has been significantly impacted by these tariffs, experiencing a rise in unemployment to 5.5%, well above the national average.

Industry groups have expressed concerns that continued tariffs on imported auto parts could lead to increased car prices and potentially cause layoffs and bankruptcies within the industry.

GM postponed its conference call to discuss its financial guidance and quarterly results to Thursday, to allow time for assessing potential changes in tariff policies and their implications.

President Trump planned visits to Michigan, including a rally at Macomb Community College, to address the economic effects of the tariffs and their impact on the local industry and jobs.