Supply Chain Management

GM sideswiped by Trump trade war; cuts outlook as metal prices rise

By the Associated Press via ClickOnDetroit.com

Jul 25, 2018

Get Plant Services delivered to your inbox Monday through Friday! Sign up for  Plant Services' complimentary Smart Minute (Monday-Thursday) and Smart Digest  (Friday) e-newsletters to get maintenance and reliability know-how you can put  to use today, plus the latest manufacturing news from around the Web, white  papers, and more. Learn more and subscribe for free today.

General Motors, facing rising commodity costs in a trade showdown with Europe and elsewhere, cut its outlook for the year.

The diminished expectations overshadowed a strong second quarter. GM now expects 2018 per-share profits of $5.14, down from $6. It cited "recent and significant increases in commodity costs" along with unfavorable currency exchange rates. Wall Street had been projecting 2018 per-share earnings of $6.42.

Read the full story at clickondetroit.com.