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For U.S. companies, costs are rising. This is how tariffs work

General Motors shares tumbled Wednesday as the company cited rising steel and aluminum costs as one reason for a smaller profit forecast. GM is not alone. Whirlpool, Coca-Cola and others are starting to tell the story of pain from the steel and aluminum tariffs in earnings reports, price projections and CEO interviews. None of this should come as a surprise. 

To listen to Josh Zive's interview with NPR's Marketplace, please click here.