General Motors (GM) reported in second-quarter results on Tuesday that tariffs cost the company $1.1 billion. Despite that hit, the carmaker insists it will not pass the cost to consumers by raising prices on cars, which should be welcome news if you're in the market for a new car.
"When you look at the first quarter, pricing was up; second quarter, pricing was essentially flat. But we've banked some of those gains, and that's part of our 30% offset that we've talked about," CFO Paul Jacobson said on CNBC's Squawk Box.
