Trending Now - GM Boosts Profit Forecast Amid Anticipated Tariff Refund

WHO:

AP - General Motors (GM), President Trump, CEO Mary Barra, CFO Paul Jacobson

AP - Customs and Border Protection (CBP) agency

WHAT:

AP - GM expects a $500 million tariff refund following a Supreme Court decision.

AP - GM's earnings before interest and taxes forecast for 2026 is now $13.5 billion to $15.5 billion, up from $13 billion to $15 billion.

AP - GM anticipates paying $2.5 billion to $3.5 billion in tariff costs for 2026, down from an original estimate of $3 billion to $4 billion.

AP - GM reported first-quarter earnings of $2.63 billion and revenue of $43.62 billion.

AP - Over 330,000 importers paid a total of about $166 billion on over 53 million shipments under the now-overturned tariffs.

WHERE:

AP - New York (location of the news report)

WHEN:

AP - The Supreme Court ruled in February that the tariffs imposed by Trump were illegal.

AP - CBP stated that if a claim is approved, it will take between 60 and 90 days for a refund to be issued.

WHY:

AP - The refund is expected to ease GM's total tariff expenses.

AP - The Supreme Court decision marked a significant blow to Trump's economic agenda.

HOW:

AP - The Customs and Border Protection agency launched an online system for claims related to the IEEPA tariffs.

(UPDATED April 28, 2026 23:18 UTC)

General Motors is anticipating a $500 million tariff refund following a recent Supreme Court decision that deemed the tariffs imposed by Trump illegal. The company also reported first-quarter earnings of $2.63 billion and revenue of $43.62 billion, while forecasting its earnings before interest and taxes for 2026 to be between $13.5 billion and $15.5 billion. Customs and Border Protection has stated that if a claim is approved, it will take between 60 and 90 days for the refund to be issued, which is expected to help ease GM's total tariff expenses.