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General Motors' second-quarter profit plummeted by over one-third, exceeding $1 billion in losses attributed to President Trump's tariffs. This follows Stellantis' announcement of significant losses partly due to tariffs and other Republican policies. The auto industry, a major US economic pillar employing millions, faces challenges in investing in new technologies amidst shrinking profits and rising competition from expanding Chinese automakers.

Prepared by Christopher Adams and reviewed by editorial team.