The General Motors global headquarters at Hudson's Detroit in Detroit, Michigan, US, on Monday, Jan. 12, 2026. CEO Mary Barra discussed GM's heritage and innovation for the future. Photographer: Jeff Kowalsky/Bloomberg via Getty Images
America’s biggest automaker expects to reap a half-billion dollar windfall in the coming year when the U.S. government issues refunds from the tariffs that were struck down by the Supreme Court.
By the numbers:
General Motors upped its guidance for 2026 to $13.5-$15.5 billion in revenue from an initial range of $13-$15 billion. The company also lowered the amount it expects to pay in tariffs from $2.5-$3.5 billion to $2-$3 billion. GM has not received its expected refund, nor does it know when the federal government may issue it, the Associated Press reported.
RELATED: Trump moves to replace rejected tariffs with new import taxes
What they're saying:
"We are clearly operating in a very dynamic environment, which isn’t unusual for this industry," GM CEO wrote in a statement to shareholders, which highlighted the automaker's successes and goals for the year.
The backstory:
After the Trump administration’s tariffs were ruled unconstitutional, the Customs and Border Patrol agency established a website for small and large businesses to seek refunds for the tariffs paid while they were in effect. It previously reported that over 330,000 companies paid more than $166 billion in taxes on imports.
The Source: Information for this article was taken from the Associated Press. This story was reported from Orlando.