General Motors said it expects a $500 million tariff refund after the Supreme Court struck down parts of President Trump’s trade measures. The payout arrives as the automaker battles a 6 percent dip in first‑quarter earnings, down to $2.6 billion, and a $1 billion hit from shifting electric‑vehicle production back to internal‑combustion engines.

The court’s ruling invalidated tariffs imposed under the International Emergency Economic Powers Act of 1977, freeing GM from a $500 million claim that would otherwise have sunk deeper into a $2.5‑$3.5 billion duty bill for steel, aluminum and auto parts that remains in force. The refund cushions the company against falling vehicle sales.

Mary T. Barra noted that truck and SUV sales keep the balance sheet buoyant, while the Iran conflict and rising gasoline prices threaten pickup demand. GM also halted electric‑vehicle output, incurring a $1 billion cost, and is converting an Orion, Mich., plant back to combustion engines, reflecting a broader shift in U.S. EV incentives.

With global deliveries down 10 percent to 1.3 million units and revenue slipping to $43.6 billion, the refund offers a temporary buffer. Investors will focus on how tariff adjustments and the company’s pivot away from EVs affect long‑term margins and capital allocation.