GM Receives $500 Million Tariff Refund—But Will It Go To Customers?

General Motors on Tuesday said it anticipated a $500 million tariff refund from the Trump administration after the Supreme Court struck down President Donald Trump’s sweeping levies, boosting the legacy automaker’s earnings projections, though it’s unlikely consumers will receive any benefits from the large-scale rebates.

The Trump administration opened requests for tariff refunds earlier this month after the Supreme Court struck down Trump’s levies.

GM disclosed its $500 million estimate while reporting first-quarter earnings on Tuesday, and the automaker said the rebate would raise its full-year earnings guidance to between $13.5 billion and $15.5 billion, or $11.50 to $13.50 per share.

The automaker reported quarterly revenue of $43.6 billion and $3.70 earnings per share, surpassing consensus analyst expectations of $43.5 billion and $2.60, according to FactSet.

In a letter to shareholders, CEO Mary Barra said the company was “clearly operating in a very dynamic environment,” but said GM saw solid growth and a strong balance sheet “to achieve [its] long-term goals.”