Car makers are feeling tariff pain: GM is the 2nd company to take a hit to profits

A General Motors logo is seen at the General Motors Detroit-Hamtramck Assembly plant in Hamtramck, Mich. on Jan. 27, 2020.

The American automaker reported that tariffs cost them $1.1 billion and reduced the company's profit margin from 9% to 6.1%.

(Image credit: Paul Sancya)