US Stock Market Move | General Motors Company (GM.US) fell 7.7% at one point, with the Chief Financial Officer predicting that the impact of tariffs could reach up to $5 billion this year.

On Tuesday, General Motors Company (GM.US) stock price fell, dropping 7.7% at one point. As of the time of writing, the stock price has narrowed to a 6.78% decrease, at $49.59 per share. The company's Chief Financial Officer Paul Jacobson stated that they expect the impact of tariffs this year could amount to as much as $5 billion. He said, "The company anticipates that tariff costs will ultimately decrease as bilateral trade agreements emerge, and through adjustments in procurement and production. We have made substantial progress in mitigating the impact, and plan to offset at least 30% of the impact through manufacturing adjustments, targeted cost actions, and continued pricing."