GM Expects $500 Million Tariff Refund After Supreme Court Ruling

General Motors announced on Tuesday that it expects to receive a $500 million refund on tariffs. The company released a letter from CEO Mary Barra to shareholders explaining the expected payout. The refund follows a recent Supreme Court ruling that changes how certain import taxes are applied. GM had previously paid the tariffs on parts imported from overseas. The ruling now allows the company to claim back the money. The refund will boost GM’s cash flow and improve its financial outlook for the year.