General Motors Co. (NYSE:GM) and Ford Motor Co. (NYSE:F) could risk backlash from President Donald Trump after reporting tariff relief at the companies’ first-quarter 2026 earnings calls.
Tariff Relief Could Invite Ire
The decision to ask for refunds could invite trouble from the Trump administration following a U.S. Supreme Court decision to strike down some of Trump’s tariffs, Reuters reported on Thursday.
GM reported a $500 million tariff refund, while Ford shared that it anticipated over $1.3 billion in refunds paid under the International Emergency Economic Powers Act (IEEPA). Stellantis NV (NYSE:STLA), on the other hand, also expected a $467 million boost thanks to the refunds, the report said.
The companies had estimated the refunds into their account books, which increased the companies’ reported net incomes, the report said. The companies expressed uncertainty about when the payments would be received.
The President had earlier acknowledged that companies not applying for tariff refunds could stand to benefit. However, Ford’s CFO, Sherry House, shared that it could sue the Trump administration if it did not transfer funds, Reuters reported.
Trump Rejects Ford’s Aluminum Relief Plea
Meanwhile, Trump had earlier rejected a request from Ford for tariff relief on Aluminum after supply chain constraints caused by a fire incident at the automaker’s Aluminum supplier Novelis’s Oswego, New York, plant caused a significant impact on production.
The administration reportedly told automakers that they were provided with relief from a few national security tariffs. The fire incident impacted the Ford F-150 production heavily.
Ford’s Robotaxi Pivot?
Ford could also be mulling an entry into the Robotaxi race as CEO Jim Farley, during the automaker’s first-quarter 2026 earnings call, hinted at the possibility. Ford’s move to rejig its Model E division could also provide a boost for its self-driving efforts, as the company shared that it could open a path to level 3 autonomous driving.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Image via Shutterstock
Recent Comments