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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's tariffs are wrecking this key industry
Two of the largest automakers, which each employ thousands in the U.S., are saying that President Donald Trumps tariff policies have lost them billions in profits in the first half of 2025. The news highlights ongoing economic problems caused by Trumps tariffs, despite the improving economy that Trump inherited.
General Motors said on Tuesday that it had lost $1 billion in the second quarter of 2025, compared with its profits at the same time last year. A year ago, when Joe Biden was in the White House, GM had profits of $2.9 billion, but this year, under Trump, that was down to $1.9 billion. The company also saw a 2% drop in sales this year.
Stellantis, which oversees brands like Chrysler, Jeep, and Dodge, reported similar bad news on Monday. In an announcement that shocked Wall Street, the company said it estimated that it would experience a net loss of nearly $2.7 billion in the first half of 2025. The company attributed much of the problem to the early effects of Trumps tariffs.
Following Trumps April announcement of his Liberation Day tariffs on nearly all countries, his administration claimed that it would swiftly close new trade deals and that the tariffs would not hurt the economy. That hasnt happened.
https://www.dailykos.com/stories/2025/7/22/2334609/-Trump-s-tariffs-are-wrecking-this-key-industry

Vthestate
(24 posts)the real bad news is just gaining momentum.
Brother Buzz
(38,996 posts)The marmalade shartcannon is hellbent on killing the economy
KentuckyWoman
(7,140 posts)Everything he touches dies.
Tarzanrock
(1,218 posts)Democrat or Republican, for more than 100 straight years now according to Wall Street records. It is beginning to look like the coming 'Turd economic recession' is fucking "A" inevitable for 2026 given the gross economic mismanagement, gross misfeasance and gross malfeasance of the Turd and that of his utterly incompetent cabinet.
Fil1957
(142 posts)littlemissmartypants
(28,470 posts)With our government.
See the economic abuse and isolation abuse spokes on the wheel?
Note the other spokes. Edit "she" to "we" and "her" to "us"... then prove me wrong.
Greg_In_SF
(385 posts)GM and Stellantis make shit ass products
Stellantis' Dodge sales, year to date, are down 49%.
Stellantis' Dodge raised their prices the most, during the pandemic. 40%-50% if I recall.
Subaru raised their prices the least during the pandemic and they are going gangbusters!
Cha
(313,103 posts)for him? No Clue Traitor is working for Putin to Destroy America?