General Motors (GM) says Trump tariffs will cost the company between $4 billion and $5 billion this year.

America's largest automaker, General Motors (NYSE:GM), will incur tariffs of between $4 billion and $5 billion this year, the company disclosed on Thursday, leading to a lower profit target than previously anticipated.

The Trump administration's tariffs on imported cars will slice $4 billion to $5 billion from General Motors' earnings this year, the automaker said Thursday, forcing it to lower its profit target.

The company is also deferring plans to spend additional billions buying back stock, a move it announced Tuesday as it reported lower first-quarter earnings and awaited tariff changes from the Trump administration.

The estimated tariff cost, which is resulting in the lower profit target, was highlighted in a letter to shareholders from CEO Mary Barra. The letter and guidance were delayed from their original scheduled release on Tuesday.

Barra's letter stated that GM now expects adjusted earnings before interests and taxes of between $10 billion and $12.5 billion this year. This is lower than the $14.9 billion recorded last year and less than the guidance it gave in January before the tariffs were announced.

Despite downgrading its earnings projections and anticipating the adverse impacts of the tariffs, GM does not expect to burden its customers with increased costs in the form of price hikes.

"We believe …pricing is going to stay at about the same level as it is," Barra said.

"Pricing changes in our industry at least monthly, and sometimes more frequently. We're going to respond to the market."

This comes as the Trump tariffs have unsettled investors, nations, and everyday Americans, with major stock indices closing out a volatile April.

After a turbulent trade session on Thursday, US stocks ultimately rebounded, erasing steep morning losses to close in positive territory.

The Dow Jones Industrial Average rose 198.08 points, or 0.7%, to 28,668.58, while the S&P 500 gained 0.5%, to 3,153.88. The Nasdaq Composite edged up 0.3%, to 8,828.40.

The broader market sell-off that began on Wednesday continued in the early hours of Thursday, pushing the Dow Jones Industrial Average down over 400 points at one point.

However, the market showed signs of recovery as the morning progressed, with the Dow Jones Industrial Average finally closing at 198.08 points, or 0.7%, to 28,668.58.

The S&P 500 also recovered, closing at 0.5%, to 3,153.88, while the Nasdaq Composite edged up 0.3%, to 8,828.40.

Several other big companies also expressed concerns and lowered their earnings projections due to the impact of tariffs.

Specifically, Intel (NASDAQ:INTC) lowered its full-year revenue forecast, attributing the move to weaker-than-anticipated PC and data center markets, and anticipation of tariffs on its products.

The chip giant now predicts revenue of about $68 billion, plus or minus $3 billion, for the year, down from its prior estimate of $70 billion, plus or minus $3 billion.

The company's net income for the second quarter is expected to be in the range of $4.1 billion to $4.6 billion, and its earnings per share are seen in the interval of $0.88 to $1.00.

In the first quarter, Intel reported earnings per share of $1.15, exceeding the average analyst estimate of $0.91, and revenue of $13.81 billion, compared to the anticipated $13.44 billion.

The auto industry has been a central target of Trump's tariff efforts. Levies are already in place on most imported automobiles, and tariffs are coming this Saturday on many of the imported parts used to build cars at American factories.

The tariffs on cars and car parts are set to take effect on Saturday, May 18.

The Trump administration has stated that the tariffs on Canadian and Mexican cars can be reduced by credits for American and Canadian-made parts.

The tariffs on cars and car parts are part of Trump's broader effort to renegotiate trade deals and reduce the US trade deficit.

The administration has already imposed tariffs on goods from China, and it is threatening to do the same with goods from other countries.

The tariffs have been met with criticism from economists, who say they will raise prices for consumers and harm the economy.

However, the administration has defended the tariffs, saying they are necessary to protect American jobs and businesses.

General Motors is the largest automaker in the US, and its vehicles are largely assembled in the country. However, the company sources many parts from suppliers around the world.

The tariffs will add