General Motors reports a 35% profit drop as tariffs weigh on car industry

General Motors, a car company, reported a 35 percent decline in second-quarter profits, including a $1.1 billion decline as a result of US tariffs, but it also confirmed its full-year forecast.

Although GM’s results on Tuesday still exceeded analyst expectations, the US automaker expressed concern that profits will be lower than they were in the first half of 2025.

The business noted the company’s focus on North American sales growth, which included strong pricing for new and updated trucks and sport utility vehicles. Among the automakers, GM was one of those who saw a rise in consumer demand for cars this spring in opposition to US tariffs and their higher prices.

Overall, revenues decreased by 1.8 percent to $ 47.1 billion, while profits overall decreased by 35.4 percent to $ 1.9 billion, year over year.

Early in April, the US imposed 25% tariffs on imported finished cars, which had an impact on major GM manufacturing plants in Mexico, Canada, and South Korea. Additionally, imported steel, aluminum, and auto parts have been subject to tariffs by automakers.

According to GM, the second quarter’s tariff hit showed “minimal mitigation offsets,” according to a slide presentation.

The Detroit-based company’s outlook for a weaker second half of 2025 is influenced by “seasonally lower” volumes, increased spending on vehicle launches, and the presence of two quarters with tariff hits in comparison to just one in the first half of the year.

After generating $6.5 billion in the first half of the year, GM anticipated annual operating income of $ 10 billion to $ 12.0 billion.

According to CNBC, CFO Paul Jacobson referred to the first quarter’s decline as “the peak of the tariff impact for us,” adding that mitigation efforts should result in a partial recovery in profit margins in the coming year.

manufacturing processes are shifting

According to a slide, GM said it would use “manufacturing adjustments, targeted cost initiatives, and consistent pricing” to at least at 30% of the tariff hit.

According to Jacobson, adjusting GM’s manufacturing footprint would take 18 to 24 months to complete.

Making use of unused capacity in its home market as President Donald Trump’s tariffs impose a fine on imported finished goods, GM announced in June that it would spend $4 billion over the course of two years to expand production in plants in Michigan, Kansas, and Tennessee.

The US production of the Chevrolet Equinox and Chevrolet Blazer was a part of the June announcement. In Mexico, the two vehicles are currently being assembled.

Manufacturing for the Chevrolet Trax, a well-known compact SUV that is reasonably priced, has not yet been moved from South Korea to its current home country.

Jacobson claimed on CNBC that the Trax remained profitable despite the importation’s impact.

There is a lot of uncertainty surrounding Korea, Jacobson said, “but we haven’t made any long-term decisions about it yet.”

Trump has set a deadline of August 1 for broad trade agreements with numerous nations, including South Korea, which is subject to a 25% tariff if no deal is reached.

“We’re optimistic that the US and Korea can come to a common ground,” Jacobson said. “We are aware that both sides’ positions are important to the auto industry,” he said.

The disappointing earnings report caused GM’s stock to decline. It is down 6.6 percent for the day as of 11: 30am in New York (15: 30 GMT).

The GM’s most recent hit comes one day after Stellantis announced it anticipated a $2.7 billion loss in the first six months of the year as a result of Trump’s tariffs. On July 29th, Stellantis, the maker of Fiat and Jeep, will release its year-end results.

Jota’s widow posts ‘forever’ tribute

Three weeks after Diogo Jota, a Liverpool forward, passed away in a car accident, his wife Diogo Jota has celebrated their first wedding anniversary.

In a post on Instagram, Rute Cardoso shared images of their wedding on June 22.

She was “forever” his, along with the words “one month of ours” until death do us part, which were displayed in three pictures.

Jota made 65 goals in 182 appearances for Liverpool since joining from Wolves in 2020.

He also assisted them in winning the Premier League title last year, the FA Cup and League Cup in 2022, and the latter in 2024.

Liverpool made the decision to resign their number 20 shirt in his honor last week.

Trump administration says the US will leave the UN cultural agency UNESCO

The administration of President Donald Trump has announced that the United States will end its involvement with the United Nations Educational, Scientific and Cultural Organization (UNESCO) over its decision to admit the State of Palestine as a member.

The decision to leave the agency, announced on Tuesday, is to take effect in December 2026.

In a statement, State Department spokesperson Tammy Bruce argued that membership in UNESCO was not in the US’s “national interest” and called the agency’s mission “divisive”.

She then pointed to several points of discord, including Palestine’s participation in UNESCO and alleged “anti-Israel” sentiment in its ranks. Palestine has been a member since 2011, but the US does not recognise it as a sovereign state.

“To admit the ‘State of Palestine’ as a Member State is highly problematic, contrary to US policy, and contributed to the proliferation of anti-Israel rhetoric within the organisation,” Bruce said.

Bruce also denounced UNESCO’s commitment to the UN’s Sustainable Development Goals, which include calls to reduce poverty, increase gender equity and fight climate change. Those goals, she said, were evidence of “a globalist, ideological agenda”.

This is the second time that Trump has withdrawn the US from UNESCO.

In 2018, during his first term, the US likewise left the agency. Then, as now, the Trump administration cited alleged bias against Israel as a motivation.

In 2023, under then-President Joe Biden, the US rejoined UNESCO. But since taking office for a second term in January, Trump has sought to peel back Biden-era initiatives and limit US support for several international organisations.

Already, he has withdrawn US support for the World Health Organization (WHO), and in February, he issued an executive order that severed funding for the UN Human Rights Council, accusing it of protecting “human rights abusers”.

That same order announced a review of US membership in UNESCO, to be completed in 90 days, with an emphasis on whether the agency had engaged in “anti-Semitism or anti-Israel sentiment”.

Trump has pursued an “America First” agenda in his second term, and White House spokesperson Anna Kelly framed the latest withdrawal from UNESCO as advancing that cause.

“President Trump has decided to withdraw from UNESCO – which supports woke, divisive cultural and social causes,” Kelly wrote on social media.

“The President will always put America First. Our membership in all international organizations must align with our national interests.”

The foreign minister of Israel, Gideon Saar, responded on social media that the US decision to exit UNESCO was yet another indication that his country has been treated unfairly on the international stage.

“This is a necessary step, designed to promote justice and Israel’s right for fair treatment in the UN system, a right which has often been trampled due to politicization in this arena,” Saar wrote. “Singling out Israel and politicization by member states must end, in this and all professional UN agencies.”

He thanked the US for its “moral support and leadership” and called on the UN to undertake “fundamental reforms”.

But UNESCO disputed the accusation that it had treated any of its members unfairly.

“UNESCO’s purpose is to welcome all the nations of the world, and the United States of America is and always will be welcome,” UNESCO Director General Audrey Azoulay said.

She added that the US government’s decision to withdraw was not unexpected — but that Trump’s decision would not end UNESCO’s engagement with other organisations in the US.

“We will continue to work hand in hand with all our American partners in the private sector, academia and non-profit organizations, and will pursue our political dialogue with the US administration and Congress,” Azoulay said.

She estimated that only about 8 percent of the agency’s budget relies on the US. Staff cuts are not anticipated as a result of the US withdrawal.

The US has acted as Israel’s primary diplomatic defender for decades, exerting pressure on international bodies that it perceives as critical towards its Middle East ally.

But the US itself has faced heightened scrutiny for that support since the start of Israel’s war in Gaza in October 2023.

That war has killed more than 59,000 Palestinians, and UN experts have called Israel’s tactics “consistent with genocide”.

Israel’s continued blockade of essential supplies into Gaza has prompted fears of famine among UN leaders as well.

“We do not need to wait for a declaration of famine in Gaza to know that people are already starving, sick and dying, while food and medicines are minutes away across the border,” Tedros Adhanom Ghebreyesus, the director general of the World Health Organization, said in May.

In a 24-hour span on Tuesday, Palestinian health officials estimated that 15 people have died of starvation, among them an infant.

But the US has been unwavering in its support of the Israeli military campaign in Gaza, despite ongoing humanitarian concerns.

Why My Ray-Ban Glasses Was Stolen — Sowore

Nigerian politician and activist, Omoyele Sowore, has alleged that the snatching of his Ray-Ban AI glasses during Monday’s police protest in Abuja was a deliberate act orchestrated by officers intent on stopping him from recording misconduct.

Speaking on Channels Television’s breakfast programme, The Morning Brief on Tuesday, Sowore explained that the incident, which was captured on video and has since gone viral, was not random.

According to him, the police have been monitoring his use of gadgets for months due to his documentation of alleged bribery and misconduct.

“I know that they planned this. They’ve been having issues with me recording police misconduct with these glasses in the last six months. In fact, one of the reasons I was charged to court by the IGP in February was because I recorded policemen on the way to the airport demanding bribes. It was part of my charges,” he said

Sowore claimed that conversations from police WhatsApp groups that were later leaked showed officers warning colleagues about his recording devices.

“They cautioned: ‘If you come across Sowore, be careful. He’s always had glasses with him. He has all these gadgets, and you don’t know where they are located,’” he stated.

The activist said he has used the AI-powered glasses to expose various instances of misconduct within the police force. He believes Monday’s incident was an attempt to gain access to stored recordings.

“I think they want to see if they can hack into the glasses, see if I have footage there they can use, or find out what footage is in there. But the foolish thing about this is that most of the footage is stored in the cloud. Even if you delete one, there will still be something somewhere left,” Sowore explained.

A viral video from the protest showed a policeman in mufti snatching the glasses from Sowore amidst the chaos. Despite the loss, he remained defiant, stating that others at the protest also captured the theft on their phones.

In February, the publisher was charged to court by the Inspector-General of Police (IGP), Kayode Egbetokun, over allegations of recording policemen who were allegedly demanding bribes on the road to Abuja airport.

The charge formed part of a broader case that Sowore claims was intended to silence his activism and documentation of alleged misconduct within the Nigerian Police Force.

Monday’s protest was staged by retired police officers demanding better welfare and pension payments. The retired personnel marched to the Force Headquarters in Abuja to express grievances about poor conditions of service and neglect of police families.

Retired Police Officers Protest Non-Payment Of Pension In Taraba

Retired Police officers in Taraba State are protesting over the non-payment of their pension and other entitlements due to them by the Federal Government.

The retired police officers who marched through the streets of Jalingo, the Taraba State capital, carrying different placards and terminated at the office of the Secretary to the Taraba Government, say they want the Contributory Pension Scheme scrapped or that they should be exited from it.

Led by Retired Superintendent of Police Gardner Nicholas, they lamented that other security agencies were removed from the pension scheme, but wondered why the police were left there despite their appeals and complaints.

READ ALSO: IGP Meets With Protesting Retired Police Officers Over Poor Welfare

“The scheme is that of neglect and has terminated the lives of our members, and we are still dying”, he said.

“We want the Federal Government, the states, and local governments to join hands in removing the Nigeria Police Force from the Contributory Pension Scheme.

” The police force is a leading security agency in Nigeria, and from fighting armed robbery to fighting insurgency, kidnapping, banditry, and a whole lot, we fight it jointly with our sister security agencies.

“At a certain point, other security agencies were removed from the scheme, and we are happy for them. If they do not want the security of this country to cripple completely, we will plead, sooner or soonest, if we are not removed, there will be a negative change in the security of this country.

” We want you to sympathize with us, we have been fighting since 2015, we appeared in the senate, attended three separate public hearings, and our public hearing reports were swept under the carpet.

“We suspect also a compromise between the PENCOM and the National Assembly, and we now believe that since they’re not forthcoming, we have decided to carry our cross and present our demands to the state government for onward presentation to the federal government”.

While receiving their complaint letters, the Permanent Secretary, Home Affairs and Special Duties, Constantine Joel, on behalf of the Secretary to the Taraba Government, assured them of tabling their complaints to the appropriate authority for action.

“I sympathize with you, and I do not know why they did not remove the Nigeria Police Force from the pension scheme”, he said.