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GM latest automaker to see tariff effects, says it took $1.1B hit last quarter

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General Motors told investors on Tuesday that it took a $1.1 billion hit from tariffs last quarter. Stellantis, which makes Chrysler, Dodge and Jeep vehicles, told investors on Monday that it felt about a $387 million net effect from tariffs in the first half of the year. Both automakers said they expect tariffs to take an even bigger bite of their profits in the coming months.

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