At the start of Q2 earnings season, investors looked for tariff-related impacts on profits. Major U.S. financial firms reported only limited effects—especially compared to the auto industry. General Motors (No.

General Motors and Stellantis, two pillars of the U.S. automotive industry, are grappling with escalating costs and shrinking profits as recent Trump-era tariffs take effect. GM saw a dramatic Q2 earnings slump,

GM’s stock dropped more than 7% after carmaker reported$1.1 billion in tariff costs in the second quarter, despite mitigation efforts.