General Motors had a more than $1 billion chunk taken out of its profits due to tariff costs, the company reported on Tuesday. GM, as well as other automakers like Stellantis, have contributed to evidence indicating American companies and consumers—not exporters—are the ones paying for tariffs.

General Motors' second-quarter core profit fell 32% to $3 billion on Tuesday, as the automaker continued to confront challenging tariff policies, which it said sapped $1.1 billion from the results.