General Motors issued a warning about how tariffs may affect its business in the future, as the Trump Administration promises some imminent relief for automakers in the U.S.The automaker posted strong financial results for its first quarter, but is reassessing its expectations for 2025 due to auto tariffs.President Donald Trump imposed a 25 percent import tariff on all foreign-made cars and parts. He is seeking to either protect domestic manufacturers from what he sees as unfair competition or force open international markets for them to sell into."We believe the future impact of tariffs could be significant," GM Chief Financial Officer Paul Jacobson told reporters on a call, Reuters reported."We're telling folks not to rely on the prior guidance, and we'll update when we have more information around tariffs."GM earned $2.78 billion, or $3.35 per share, for the three months ended March 31. A year earlier it earned $2.98 billion, or $2.56 per share. Revenue climbed to $44.02 billion from $43.01 billion.Its initial full-year financial forecast doesn't contemplate the potential impact of tariffs.The Trump Administration is poised to alleviate some of the tariffs on foreign auto parts used to manufacture vehicles in the U.S., according to reports by The Wall Street Journal and Reuters.This is a breaking news story and more information will be added soon.This article includes reporting by The Associated Press.
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