The Financial Post reports in its Thursday edition that General Motors and Stellantis posted significant profit losses due to tariffs, with GM noting a $1.5-billion impact on its second quarter earnings and Stellantis estimating a $477-million hit in the first half of the year, warning of larger losses ahead. The Post's Gabriel Friedman writes that the tariffs are raising costs and reducing competitiveness for North American automakers, potentially leading to decreased vehicle production in Canada as they transition to electric vehicles. "These earnings reports from automakers underline the reasons why we urgently need to get to a deal with the U.S. that removes tariffs," said Canadian Vehicle Manufacturers' Association president Brian Kingston, a trade industry lobby group that represents both GM and Stellantis. Starting in March, the U.S. imposed a 25-per-cent tariff on Canadian goods, including a specific 25-per-cent tariff on vehicle imports in April. However, the U.S. later adjusted its policy to allow vehicles compliant with the Canada-United States-Mexico Agreement to reduce the tariff based on the percentage of U.S.-built parts. At the same time, in April, Canada applied its own 25-per-cent counter-tariffs to U.S.-built vehicles.