The Daily Populous Wednesday April 29th, 2026 night edition
Authored by abcnews.com and submitted by AudibleNod

The company on Tuesday released a letter from CEO Mary Barra to shareholders.

General Motors says it expects $500 million tariff refund after SCOTUS ruling

Signs advertising Buick, GMC and Cadillac, automobile brands owned by General Motors Company, are seen at a car dealership in Queens, New York, U.S., November 16, 2021.

General Motors said on Monday it expects to receive $500 million in refunds from tariffs that were ruled illegal by the Supreme Court.

The automaker is now boosting its full-year profit forecast by $500 million, GM CEO Mary Barra said in a letter to shareholders as the company announced its Q1 results. Barra also cited strong sales of its full-size pickup trucks, despite rising gas prices.

This photo provided by Chevrolet shows the Colorado ZR2 pickup. The ZR2 is the most capable version of the Colorado for going off-road. Courtesy of General Motors via AP

The federal government opened last week its refund portal to allow companies to apply to get tariff money back. The Supreme Court ruled in February that the International Emergency Economic Powers Act did not give President Donald Trump the power to unilaterally impose tariffs.

GM is one of more than 330,000 importers who paid the IEEPA tariffs that were invalidated, totaling $166 billion.

The IEEPA tariffs alone cost the typical American household $700 last year, according to the nonpartisan Tax Foundation.

Largofarburn on April 28th, 2026 at 13:23 UTC »

Just to be clear. We all paid these tariffs, we’re likely going to be paying for the refunds via our taxes, and I can almost guarantee you none of us will be made whole.

Gotta love it.

kahner on April 28th, 2026 at 13:14 UTC »

i'm sure that will be sent right back to their customers who actually paid for the tariffs.

AudibleNod on April 28th, 2026 at 13:13 UTC »

> The IEEPA tariffs alone cost the typical American household $700 last year, according to the nonpartisan Tax Foundation.

No one is getting their $700. Well, some people will.

GM executives' performance bonuses spared from tariff hit

"The $3 billion hit to General Motors Co. from President Donald Trump's tariffs last year did not penalize CEO Mary Barra and other top executives as part of their multimillion-dollar annual performance bonuses.

That's because members of the Detroit automaker's board of directors decided to exclude losses tied to tariffs when evaluating the company's profitability as part of executive bonuses, according to U.S. Securities and Exchange Commission financial filings from GM."