May 1, 2025 | GM could take $5 billion tariff hit; Cox Automotive analyzes Trump’s changes

General Motors says tariffs could have up to a $5 billion impact this year as it cuts its 2025 profit forecast. Ford CEO Jim Farley says Trump’s import duty changes don’t do enough. Plus, Cox Automotive Chief Economist Jonathan Smoke and the company’s executive analyst, Erin Keating, talk about the likely impacts of the latest tariff moves on the industry.