Trump says GM and Ford execs thanked him for tariffs because they made stocks surge

Donald Trump said executives from General Motors and Ford called to thank him after he slapped new tariffs on imported medium- and heavy-duty trucks and ￰0￱ posted on Truth Social that the CEOs told him the tariffs made their stocks “soar” and saved ￰1￱ from what they described as a “hard, long slog” in the ￰2￱ new 25% import duty will take effect on November 1, but it’s already making noise across the auto ￰3￱ announcement sent traders rushing into auto stocks, with GM shares up 14% in early Tuesday trading and now sitting 24% higher for the year, nearly 35% up in the past twelve ￰4￱ wrote that the tariff strategy was meant to push foreign truck makers to build more in the U.

S., adding that it was working faster than ￰5￱ raises prices and trims losses as tariffs hit profits Inside GM, the focus is on surviving the higher costs and turning the tariffs into a financial ￰6￱ Financial Officer Paul Jacobson told Yahoo Finance that “tariffs are getting a little bit better,” and that Wall Street should understand “it’s stabilized.” He said the company started the year surrounded by tariff noise but stayed confident it could “adjust and work through it.” Jacobson said GM is relying on its “track record” of resilience, pointing out how the company made it through the pandemic and the global semiconductor ￰7￱ added, “Now we’re on track to be able to lean on that record and look to a 2026 that could be better than 2025.” He also said the Trump administration wants the ￰8￱ industry to be successful, citing recent trade progress with South Korea and potential relief talks involving Mexico and ￰9￱ now estimates tariffs will cut $3.5 billion to $4.5 billion from profits this year, less than its earlier forecast of up to $5 ￰10￱ company expects new tariff revisions to ease the hit, with savings expected to show up by the fourth ￰11￱ also said cost cuts will offset part of the ￰12￱ keep margins steady, GM has been raising prices on its trucks and SUVs, saying it finds “opportunities to add content and create value for the consumer” each time it updates a ￰13￱ said GM is seeing “strong demand” for full-size SUVs and trucks, allowing the automaker to tweak pricing and production to keep revenue flowing despite the ￰14￱ result has been a stronger performance from its most profitable vehicles, even as component costs ￰15￱ faces recall wave and factory delays after plant fire While GM works to stabilize its margins, Ford has been struggling with a wave of recalls and a supply disruption that’s affecting production ￰16￱ is recalling 1,448,655 vehicles due to a rearview camera problem that can cause distorted or blank images when drivers ￰17￱ National Highway Traffic Safety Administration said the defect increases the risk of a ￰18￱ follows earlier recalls of 290,000 vehicles this month over similar issues with Ford’s 360-degree camera systems in certain lighting ￰19￱ this year, Ford also recalled 1.1 million Ford and Lincoln vehicles in May and another 200,000 in July for related camera ￰20￱ problems pile onto Ford’s production delays triggered by a three-alarm fire last month at an aluminum plant in New York, which forced the facility to shut down until early next ￰21￱ plant supplies metal for Ford’s Expedition and Lincoln Navigator, both high-margin ￰22￱ production halt has also disrupted supply chains for Jeep SUVs, which rely on the same aluminum ￰23￱ to an internal memo allegedly obtained by The Wall Street Journal, Ford extended the pause on assembly of the Expedition and Navigator at its Kentucky Truck Plant through October ￰24￱ workers said output of the F-Series Super Duty trucks, which can sell for over $100,000 each, has also been trimmed to manage ￰25￱ seen where it ￰26￱ in Cryptopolitan Research and reach crypto’s sharpest investors and builders.