DETROIT -- The impact of President Donald Trump’s tariffs could cost General Motors up to $5 billion this year. In a letter issued to shareholders Thursday, the Detroit-based automaker lowered its 2025 profit projections to reflect the anticipated impact of the tariffs. According to the Associated Press, the company is forecasting full-year adjusted earnings before interest and taxes (EBIT) between $10 billion to $12.5 billion. The automaker previously projected an adjusted EBIT between $13.7 billion and $15.7 billion. GM says the forecast includes a current tariff exposure of $4 billion to $5 billion, the AP reports. The profit projections come after Trump signed executive orders Tuesday that will alter previously announced 25% tariffs on automobiles and auto parts. The orders are expected to relax some of the tariffs, reducing their impact on automakers in the U.S. In the shareholder letter, General Motors CEO Mary Barra thanked Trump for the move. “We look forward to maintaining our strong dialogue with the administration on trade and other policies as they continue to evolve,” Barra said. “As you know, there are ongoing discussions with key trade partners that may also have an impact. We will continue to be nimble and disciplined and update you as we know more.” Still, most economists say the tariffs will result in higher prices for consumers, leading to fewer sales, according to the AP. In addition to impacting shareholders, the reduced profit projections could hurt the pockets of hourly workers who receive a yearly profit-sharing bonus. Last year, GM reported some profit-sharing checks were for a record $14,500.