GM expects $500 million from tariff refund after Trump administration taxes thrown out
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 automakers 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.