President Donald Trump’s 25% tariffs on imported vehicles and parts have sent shockwaves through the U.S. auto industry.

The tariff on imported Japanese cars has been cut to 15%, down from 25%, in a deal announced by President Donald Trump.

General Motors’ profit and revenue declined in its second-quarter but the automaker’s results managed to easily top Wall Street’s expectations and the company stuck by its full-year financial outlook that it lowered in May.

Even with shares down 12% this year, Tesla Inc. (NASDAQ:TSLA) still carries an out-of-this-world price-to-earnings ratio of 189x. That's not just lofty—it's meme-level. Tesla's Valuation Is Still From Another Planet For context,

Automaker General Motors posted a 12% sales gain through the first half of year while working to mitigate the effects of President Donald Trump's tariffs.

General Motors is set to report its second-quarter earnings before the bell Tuesday. Wall Street analysts expect adjusted earnings per share of $2.44 and revenue of $46.4 billion. GM executives will host an earnings conference call at 8:30 a.m. ET.

The Detroit automaker signed an agreement with Redwood Materials to turn new and used EV batteries into storage systems to power AI data centers.

General Motors is the latest U.S. auto giant to say tariffs have taken a chunk from their earnings. The company beat earnings expectations on Tuesday, but reported a decline in second-quarter profits, including a $1.1 billion hit as a result of hefty import taxes.