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Cable channel Newsmax began trading on the New York Stock Exchange on Monday, and shares spiked more than 700%.
The conservative TV news outlet has seen its ratings rise with the election of President Donald Trump and other prominent Republicans — although it still falls behind the dominant Fox News.
Newsmax raised $75 million through the sale of 7.5 million class B common shares at a price of $10 a share.

Fox News and Newsmax television studios are seen in the Fiserv Forum on the day before the Republican National Convention begins, in Milwaukee, Wisconsin, July 14, 2024.
Joe Raedle | Getty Images News | Getty Images

Newsmax went public on the New York Stock Exchange on Monday, as the conservative cable news network audience has grown after the election of President Donald Trump and other right-wing politicians.
The network began trading under the symbol “NMAX” late Monday morning, opening at $14 a share after pricing at $10 a share. It soared more than 700% in volatile trading on Monday.

Newsmax’s stock closed at $83.51 for the day.
In September, Newsmax announced its plans for an initial public offering in early 2025. On Friday, the company said it raised $75 million through the sale of 7.5 million shares of Class B common stock at a price of $10 per share.
A pure-play TV network IPO in the U.S. is a rarity, with Dealogic data showing there hasn’t been one comparable to Newsmax in recent decades. Newsmax’s IPO comes at a time when traditional cable TV has suffered as consumers flee the bundle in favor of streaming. Now, news and live sports nab the biggest audiences and most advertising revenue dollars.
The debut also comes as the audience for right-wing prime-time content has grown with the rise of Trump and other right-leaning politicians in recent elections.
Christopher Ruddy, the company’s founder and CEO, said Monday on CNBC’s “Squawk Box” that he saw an opportunity to join the mix since Fox Corp.’s Fox News didn’t have a competitor in the “center right market.”

“I think there was a demand for more competition against Fox,” Ruddy said Monday. Ruddy founded Newsmax in 1998 as a digital offering before it became a cable TV network in 2014.
While the cable news landscape is dominated by Fox News, CNN and MSNBC, Newsmax has grown its audience in recent years and is offered through most major pay-TV providers.
Ruddy on Monday said that Newsmax is the “No. 4 cable news channel in the United States, right behind CNN.” Nielsen confirmed Monday that Newsmax ratings have “consistently” been in the fourth spot behind Fox News, MSNBC and CNN.
Still, Newsmax’s audience has yet to reach the breadth of Fox News, according to Nielsen data. Between Dec. 30 and March 20, Newsmax had an average of 309,000 primetime viewers and 211,000 daytime viewers. Fox News attracted an average of nearly 3.1 million primetime viewers and roughly 2 million daytime viewers during the same period.
Overall, Newsmax ranks in the top 20 among cable network average viewership in both prime time and daytime, Nielsen said Monday.
“I think it’s a pretty big achievement for a 10-year-old, new cable company,” Ruddy said Monday on “Squawk Box.”
As its popularity has risen, Newsmax has negotiated receiving licensing fees from cable TV providers. In its early days, Newsmax relied on advertising revenue. In 2023, it resolved a dispute with DirecTV — which led to it being dropped from the pay TV provider for a short period — after pushing to receive fees.
As the company went public, Ruddy downplayed the pro-Trump leanings of Newsmax — which reached a $40 million settlement last year with Smartmatic over the network’s false claims that the voting machine company helped to rig the 2020 presidential election in favor of former President Joe Biden.
“We believe we’re conservative with an independent news mission, and ask tough questions of the Trump administration,” Ruddy said Monday on “Squawk Box.”
In a post on social media platform X on Tuesday, Ruddy said he received a call from Trump and that the conversation touched on various topics, including the company’s upcoming IPO. “I shared with Potus my new saying: ‘A rising Trump lifts all boats!'” Ruddy wrote. More

Donald Trump has promised to impose sweeping tariffs on imported goods on April 2nd, dubbing it “Liberation Day”. The car industry got a preview of what is in store a week earlier, when on March 26th America’s president said he would charge hefty levies on imported cars and parts. The aim is to restore carmaking to America. But it will come at a high cost. Raised prices will hit sales and reduce choice for American consumers. Carmakers, meanwhile, will be “liberated” from large chunks of their profits. More

AMC, the world’s largest cinema chain, is adding 40 Dolby Cinema theaters to is U.S.-based AMC locations through the end of 2027.
The announcement comes just days after AMC revealed a partnership with CJ 4DPLEX to add 65 Screen X auditoriums and 40 4DX theaters to its theaters around the globe.
The premium push comes ahead of a packed slate of blockbuster films due out in 2025 and 2026 from major franchises like Avatar, Star Wars, Jurassic Park, the Marvel Cinematic Universe, DC comics and Mission Impossible.

People walk past an AMC theatre in Manhattan in New York City, U.S., February 25, 2025. 
Jeenah Moon | Reuters

Hollywood’s blockbuster slate is heating up, and AMC Entertainment is increasing the number of its premium screens to meet demand.
The world’s largest cinema chain is adding 40 Dolby Cinema theaters to its U.S.-based AMC locations through the end of 2027. It marks a 25% increase in the number of the branded premium screens, bringing the company’s total number to more than 200.

“Premium moviegoing is defining the modern box office,” said Kevin Yeaman, president and CEO of Dolby Laboratories. “In expanding our longstanding partnership with AMC, we look forward to providing even more audiences with access to the most immersive film experiences that you can only get at Dolby Cinema.”
The announcement comes just days after AMC revealed a partnership with CJ 4DPLEX to add 65 Screen X auditoriums and 40 4DX theaters to its theaters around the globe.
Premium large format screens, often referred to as PLFs, are elevated viewing experiences that come with a higher ticket price. The physical screens are often bigger than traditional movie screens or have auditoriums that feature higher-quality sound systems or seating options.
Dolby Cinemas are specially designed auditoriums with plush, reclining seats and a combination of Dolby Vision and Dolby Atmos, which deliver crisp visuals and immersive sound. Screen X theaters feature a 270-degree panoramic screen that extends the movie image onto the side walls using multi-projection technology, and 4DX is a premium experience that features gyroscopic seats and practical effects like fog, water and wind that play in time with the movie.
The films that benefit the most from PLF ticket sales have been Hollywood’s biggest blockbusters, as audiences want to see explosive action movies and dazzling spectacles in the most state-of-the-art locations. It’s why films like Universal’s “Oppenheimer,” Disney’s “Avatar: The Way of Water” and Warner Bros.′ “Dune” and “Dune: Part Two” captured a significant portion of the PLF box office during their runs.

The 2025 and 2026 box offices are packed with blockbuster features from major franchises like Avatar, Star Wars, Jurassic Park, the Marvel Cinematic Universe, DC comics and Mission Impossible.
“The expansion of this partnership is a powerful demonstration of AMC’s ongoing commitment to deliver this premium experience — sought out by filmmakers, studio partners, and our guests — to even more of our theaters and AMC moviegoers around the United States,” Adam Aron, AMC’s CEO, said in a statement Monday about the Dolby expansion.
As of 2024, there were more than 950 theaters in North America that had PLF screens, a 33.7% jump from just five years ago, according to data from Comscore. These screens accounted for 9.1% of the domestic box office, around $600 million in 2024.
Premium ticket prices average just under $17 apiece, according to movie data firm EntTelligence, an 8% increase since 2021, when the company first started reporting these figures.
PLF receipts still represent a small portion of the overall box office, with most audiences seeing films on traditional digital screens. However, the PLF box office has grown 33% in just five years.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. More

Novo Nordisk said its diabetes pill Rybelsus showed cardiovascular benefits in a late-stage trial.
The pill lowered the risk of cardiovascular-related death, heart attack and stroke by 14% compared to a placebo after four years on average in patients with diabetes and established heart disease, with or without chronic kidney disease.
The results pave the way for it to become a new treatment option for people living with diabetes and established heart disease. 

Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic and Wegovy are pictures while the company presents the annual report at Novo Nordisk in Bagsvaerd, Denmark, on February 5, 2025. 
Mads Claus Rasmussen | Afp | Getty Images

Novo Nordisk on Saturday said its diabetes pill Rybelsus showed cardiovascular benefits in a late-stage trial, paving the way for it to become a new treatment option for people living with diabetes and heart disease. 
The pill lowered the risk of cardiovascular-related death, heart attack and stroke by 14% compared to a placebo after four years on average in patients with diabetes and established heart disease, with or without chronic kidney disease. The Danish drugmaker presented the results on Rybelsus, which is already approved for Type 2 diabetes, at the American College of Cardiology’s Annual Scientific Session in Chicago.  

Novo Nordisk has already applied in the U.S. and EU to expand the pill’s approval to include lowering the risk of serious cardiovascular complications, Stephen Gough, the company’s global chief medical officer, said in an interview.
Rybelsus is the once-daily oral formulation of Novo Nordisk’s blockbuster diabetes injection Ozempic, which is taken once a week. Both treatments, as well as the company’s weekly weight loss injection Wegovy, contain the active ingredient semaglutide.
Wegovy in March 2024 won U.S. approval for slashing the risk of major cardiovascular events in adults with cardiovascular disease and who are obese or overweight. But the pill data presented on Saturday suggests that patients who are hesitant to take injections, such as those who are afraid of needles, could soon access treatment in a more convenient way. 
“We know not everybody wants an injection, whether it is painful or not, they want the option of an oral medication,” Gough told CNBC. “We provide that option, that you can have one or the other, depending on what the patients and the healthcare professional think is right in that joint discussion.”
The data comes as a slate of other drugmakers, including Eli Lilly, work to develop oral GLP-1s for diabetes, weight loss and other conditions, such as sleep apnea.

The phase three trial examined just over 9,600 patients 50 years and older who received either Rybelsus or placebo, both on top of their standard treatment regimen, for an average of just under four years. Nearly half of all patients received medications called SGLT2 inhibitors, which are primarily used to lower blood sugar in adults with Type 2 diabetes, at some point during the trial. 
By the end of the trial, 12% of people taking Rybelsus and 13.8% of those taking placebo experienced cardiovascular-related death, heart attack or stroke. That represents a 14% overall lower risk among those who took Rybelsus. 
Researchers said that the reduced risk is in line with the cardiovascular benefits observed in eight previous trials involving injectable GLP-1s, which include semaglutide and other popular medications, according to a release from the American College of Cardiology. GLP-1s mimic certain gut hormones to tamp down appetite and regulate blood sugar, but also have other effects such as reducing inflammation. 
Rybelsus helped lower the risk of non-fatal heart attacks by 26% compared to the placebo, which was “the primary driver” of the overall reduction of risk for cardiovascular complications in the trial, the release said. The pill also slashed the risk of non-fatal strokes by 12% and cardiovascular-related death by 7% compared to placebo. 
There was no significant difference between the Rybelsus and placebo groups in outcomes related to kidney function, the release added. But the trial was “clearly” designed to examine the cardiovascular rather than kidney benefits of the pill, Gough said. 
Ozempic is already approved to treat chronic kidney disease in diabetes patients. 
The most common side effects reported in the study were gastrointestinal issues, such as nausea, diarrhea and constipation, which rarely led patients to stop taking Rybelsus, according to the release. Those symptoms are consistent with the side effects of injectable semaglutide. 
Similar results were seen across all subgroups of patients – by age, sex and among people with different health conditions at the start of the trial, the release said. 
Unlike its injectable counterparts, Rybelsus must be taken on an empty stomach at least 30 minutes before breakfast with a small amount of water. Despite those requirements, the study offers “reassurance that patients were able to take the drug as directed and reap cardiovascular health benefits from it,” said Dr. Darren McGuire, professor of medicine at UT Southwestern Medical Center and the study’s first author.  More

Trips from Canada to the U.S. are dropping, threatening to widen the United States’ $50 billion travel and tourism deficit.
Canada is the top source of international visitors to the United States.
The White House said Friday that Canadians “will no longer have to endure the inconveniences of international travel when Canada becomes our 51st state.”
Several other countries have issued travel warnings for travelers considering going to the U.S.

Canadians hold an “Elbows Up” protest against U.S. tariffs and other policies by U.S. President Donald Trump, at Nathan Phillips Square in Toronto, Ontario, Canada March 22, 2025.
Carlos Osorio | Reuters

Canadians are skipping trips to the U.S. and visitors from other countries could soon follow threatening to deepen the United States’ $50 billion travel deficit.
Experts say they’re pulling back for a variety of reasons, ranging from an unfavorable currency exchange rate to the U.S. political climate given President Donald Trump’s trade policies and his public statements on annexing Canada, as well as high-profile detainments of people who already had visas to be in the U.S., long wait visa times and other policies that have added to tensions with longtime close allies.

Reached for comment Friday, a White House spokesperson said by email that “everybody wants to come to President Trump’s America.”
Canadians “will no longer have to endure the inconveniences of international travel when Canada becomes our 51st state” and that “Europeans are eager to enjoy the Golden Age of America if they so choose to,” the spokesperson said.
In response to President Trump’s tariff plans at the time, former Canadian Prime Minister Justin Trudeau last month urged Canadians to “choose Canada” and suggested “changing your summer vacation plans to stay here in Canada and explore the many national and provincial parks, historical sites and tourist destinations our great country has to offer.”
The cross-border travel trends and Trump administration’s policies are worrying some in the United States’ travel industry, which draws in more than $1 trillion in direct spending a year.
The U.S. Travel Association said in a statement to CNBC that there is a “a question of America’s welcomeness, a slowing U.S. economy and recent safety concerns.

“These challenges are real and demand decisive action,” the organization, whose members include large hotel groups, airlines and other major travel companies, said, adding that is “actively working with the White House and Congress to advance policies that drive economic expansion and keep the U.S. competitive on the global stage.”
There are billions of dollars on the line. People from the United States already travel abroad and spend more in other countries than the U.S. brings in from foreign travelers.
Last year, the United States’ travel deficit was more than $51 billion, meaning Americans spent that much more abroad than foreigners visiting the U.S. spent, stripping out spending for medical and educational purposes, which still showed a deficit, according to Commerce Department data.
The U.S. brought in more than 72 million visitors last year, still below pre-Covid levels, according to a report from Jefferies. Visitors from Canada were the largest group, accounting for 28%, followed by Mexico at 23%, the bank said in a note this month.
Travel and tourism of inbound visitors are counted as U.S. exports, and they accounted for about 8% of U.S. exports of goods and services, according to the Commerce Department.
International visitors from overseas are especially important because they tend to stay longer and spend more money than local tourists, according to the U.S. Travel Association.

Some Canadians travel elsewhere

Both air travel and land crossings between the United States and Canada are down.
In February, Canadians’ return flights to Canada fell 13% over last year while return trips by car dropped 23% according to Statistics Canada.
Hotel demand in some area along the Canada-U.S. border are also down. As of March 15, they were off 8% in Bellingham, Washington, and 3.5% in the Niagara Falls area, according to hotel data firm STR. However, demand throughout Florida, a top destination for Canadian travelers, is up 3% over last year, the firm said.
Canadian airlines are cutting some routes and flights to the U.S.
Canadian airline Flair, for example, said it canceled its planned Toronto to Nashville, Tennessee, route.
“Our network decisions are driven solely by consumer demand—we deploy our aircraft where demand is strongest to provide the lowest fares to the most travellers,” a spokeswoman for the airline said by email.
Canadian airline WestJet said it has seen Canadian customers shift bookings from the U.S. to other popular sunseeker destinations like Mexico and the Caribbean.
“The airline remains focused on knowing where people want to go, and we will continue to fly where there is demand,” a spokeswoman said.

Read more CNBC airline news

The shift comes as travel executives have warned about weaker-than-expected bookings for domestic U.S. trips, meaning more local tourism might not be able to make up for the drop in trans-border travel. While U.S. household credit and debit card spending overall was up 1.5% over last year as of March 22, spending on airlines dropped 7.2%, according to a Bank of America report this week.
United Airlines CEO Scott Kirby, for example, said at an investor conference earlier this month that the carrier is trimming routes in part because it’s seeing “a lot of it trans-border, big drop in Canadian traffic to go into the U.S.,” as well as a sharp drop in flights that had previously catered to U.S. government-tied travel.
Lara Harbachian, who works for a digital printing company in Montreal, and eight friends (so far) had been considering several U.S. destinations this year to celebrate their 40th birthdays: San Diego; Palm Springs, Calif.; Savannah, Georgia; or Nashville. The winner was farther east: Barcelona, Spain.
While the flights to Europe were more expensive than the ones to the U.S. destinations, Harbachian said it will be cheaper for her and her friends to visit the popular Spanish city, where they won’t need to rent a car and high-end meals and hotels are cheaper, especially with a weaker Canadian dollar over the greenback.
“I can get a 15 euro meal but I can’t get a $15 meal” in the U.S., she said.
Trump earlier this month created a task force for the 2026 FIFA World Cup that the U.S. is co-hosting with Mexico and Canada to “showcase the Nation’s pride and hospitality while promoting economic growth and tourism through sport.”

Travel warnings about the U.S. grow

Another challenge for the U.S. travel industry this year is a growing number of travel warnings about the visiting the United States. So far, Germany, the United Kingdom, France, Denmark and Finland have issued travel warnings for their citizens who are planning to go to the United States.

Those were prompted by detentions even of individuals who had visas to be in the United States as well as Trump’s executive order that the country would only recognize two biological sexes, prompting concerns from governments in Europe about travelers whose passports state a different gender than the one they were born with.
For example, Germany said that “travelers with the gender entry “X” or whose current gender entry differs from their birth date should contact the responsible U.S. diplomatic mission in Germany before entering the country to find out about the applicable entry requirements.”
Travel warnings “could deter international visitors, especially first-time travelers,” said Carolin Lusby, assistant professor in tourism at the Chaplin School of Hospitality & Tourism Management at Florida International University.
She said there is often a rebound after an incident or tragedy occurs, such as after the Paris terror attacks in 2015. “But a lot of times is we know that once a destination image changes, it takes a lot of effort to bring back the trust,” she said.
“In terms of the economic consequences, that could turn into billions of lost dollars,” she added. More

The Federal Communications Commission has alerted the Walt Disney Company and its ABC unit that it will begin an investigation into the diversity, equity and inclusion efforts at the media giant.
The FCC said in a letter that it wants to “ensure that Disney and ABC have not been violating FCC equal employment opportunity regulations by promoting invidious forms of DEI discrimination.”
FCC Chairman Brendan Carr, who was recently appointed by President Donald Trump, began a similar investigation into Comcast and NBCUniversal in early February.

The main gate at The Walt Disney Studios in Burbank, California, on Sept. 25, 2023.
Mario Anzuoni | Reuters

The Federal Communications Commission has alerted the Walt Disney Company and its ABC unit that it will begin an investigation into the diversity, equity and inclusion efforts at the media giant.
The FCC, the agency that regulates the media and telecommunications industry, said in a letter dated Friday that it wants to “ensure that Disney and ABC have not been violating FCC equal employment opportunity regulations by promoting invidious forms of DEI discrimination.”

“We are reviewing the Federal Communications Commission’s letter, and we look forward to engaging with the commission to answer its questions,” a Disney spokesperson told CNBC.
FCC Chairman Brendan Carr, who was recently appointed by President Donald Trump, began a similar investigation into Comcast and NBCUniversal in early February. The inquiry comes after Trump signed an executive order looking to end DEI practices at U.S. corporations in January. The order calls for each federal agency to “identify up to nine potential civil compliance investigations” among publicly traded companies, as well as nonprofits and other institutions.
“For decades, Disney focused on churning out box office and programming successes,” Carr wrote in the letter to CEO Bob Iger. “But then something changed. Disney has now been embroiled in rounds of controversy surrounding its DEI policies.”
An FCC spokesperson didn’t comment beyond the letter.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. More

Lululemon reported earnings and revenue beats for its fourth-quarter earnings on Thursday.
But the retailer’s 2025 guidance came in below expectations.
Revenue for the fiscal fourth quarter of 2024 totaled $3.61 billion.

Lululemon store in Manhattan, New York City, U.S., on July 15, 2024.
Beata Zawrzel | Nurphoto | Getty Images

Lululemon beat Wall Street expectations for fiscal fourth-quarter earnings and revenue, but issued 2025 guidance that disappointed analysts.
On an Thursday earnings call, CEO Calvin McDonald said the athleticwear company conducted a survey earlier this month that found that consumers are spending less due to economic and inflation concerns, resulting in lower U.S. traffic at Lululemon and industry peers. However, he said, guests responded well to innovation at the company.

“There continues to be considerable uncertainty driven by macro and geopolitical circumstances. That being said, we remain focused on what we can control,” McDonald said.
Shares of the apparel company fell more than 10% in extended trading.
Lululemon was only the latest retailer to say it expects slower sales for the rest of this year as concerns grow about a slowing economy and President Donald Trump’s tariffs.
Here’s how the company did compared with what Wall Street was expecting for the quarter ended Feb. 2, based on a survey of analysts by LSEG:

Earnings per share: $6.14 vs. $5.85 expected
Revenue: $3.61 billion vs. $3.57 billion expected

Fourth-quarter revenue rose from $3.21 billion during the same period in 2023. Full-year 2024 revenue came in at $10.59 billion, up from $9.62 billion in 2023.

Lululemon’s fiscal 2024 contained 53 weeks, one week longer than its fiscal 2023. Excluding the 53rd week, fourth-quarter and full-year revenue both rose 8% year over year for 2024.
Lululemon expects first-quarter revenue to total $2.34 billion to $2.36 billion, while Wall Street analysts were expecting $2.39 billion, according to LSEG. The retailer anticipates it will post full-year fiscal 2025 revenue of $11.15 billion to $11.30 billion, compared to the analyst consensus estimate of $11.31 billion.
For the first quarter, the company expects to post earnings per share in the range of $2.53 to $2.58, missing Wall Street’s expectation of $2.72, according to LSEG. Full-year earnings per share guidance came in at $14.95 to $15.15 per share, while analysts anticipated $15.31.
CFO Meghan Frank said on the Thursday earnings call that gross margin for 2025 is expected to fall 0.6 percentage points due to higher fixed costs, foreign exchange rates and U.S. tariffs on China and Mexico.
Lululemon reported a net income for the fourth quarter of $748 million, or $6.14 per share, compared with a net income of $669 million, or $5.29 per share, during the fourth quarter of 2023.
Comparable sales, which Lululemon defines as revenue from e-commerce and stores open at least 12 months, rose 3% year over year for the quarter. The comparison excludes the 53rd week of the 2024 fiscal year. Analysts expected the metric to rise 5.1%.
Comparable sales in the Americas were flat, while they grew 20% internationally. Lululemon has been facing a sales slowdown in the U.S., although McDonald said its U.S. business stabilized in the second half of the year and partially attributed the improvement to new merchandise. He added that Lululemon will expand its stores to Italy, Denmark, Belgium, Turkey and the Czech Republic this year. More

General Motors stock fell more than 6% Thursday after President Donald Trump announced new tariffs on auto imports.
The divergence from shares of other automakers stems from the amount of vehicles that GM imports, and its exposure to Mexico in particular.
Roughly 30% of GM vehicles sold in the U.S. during the first three quarters of 2024 were assembled in Canada and Mexico.

The GM logo is seen on a water tank of the General Motors assembly plant in Ramos Arizpe, in Coahuila state, Mexico, on Feb. 11, 2021.
Daniel Becerril | Reuters

As auto stocks reacted to the latest tariff announcement out of Washington, D.C., on Thursday, General Motors took the brunt of the hit.
Shares of GM fell more than 7% in Thursday trading, far underperforming the likes of Ford and Stellantis, which shed more than 3% and roughly 1%, respectively. Tesla stock was essentially unchanged for the day.

The divergence stems from the amount of vehicles that GM imports, and its exposure to Mexico in particular.

Read more CNBC auto news

“Tesla and Ford appear to be the most shielded given location of vehicle assembly facilities although Ford does face incremental exposure on imported engines,” Deutsche Bank analysts wrote in a note Thursday. “GM has the most exposure to Mexico.”
President Donald Trump on Wednesday announced his administration would impose 25% tariffs on “all cars that are not made in the United States” and some automobile parts. The executive order signed Wednesday allows for some leniency for components that are compliant with the United States-Mexico-Canada Agreement, but it was not immediately clear what relief that might offer the North American automotive industry.

Stock chart icon

General Motors stock falls after Trump tariff announcement.

Mexico accounted for 16.2% of vehicle imports into the U.S. as a percentage of sales in 2024, according to GlobalData. That was the largest share of any country, about double the shares of South Korea and Japan, which ranked second and third in terms of import volume, respectively.
Roughly 52% of GM vehicles sold in the U.S. during the first three quarters of 2024 were assembled in the U.S., according to research by Barclays analyst Dan Levy. That leaves 30% assembled in Canada and Mexico, and another 18% brought in from other countries.

Levy also pointed out that GM relies heavily on Mexico and South Korea for production of some of its small crossovers, including its Equinox and Blazer vehicles.
“Roughly half of GM’s US sales are produced in the US, but imported parts are a concern,” he said.
During the same period, 57% of Stellantis vehicles and 78% of Ford vehicles sold in the U.S. were assembled stateside. Levy reported Stellantis assembled 39% of its U.S.-sold units in Canada and Mexico, and Ford, just 21%.
Wolfe Research’s Emmanuel Rosner said the tariffs primarily affect foreign-brand automakers, but noted that 15% of GM’s U.S. vehicles come from South Korea.
John Murphy from Bank of America said in comparison to the broader automotive market, GM is “relatively exposed to the tariffs” and may need to rebalance.
GM stock is down 13% year to date. Shares fell sharply in late January after investors worried that the automaker did not address concerns about tariffs in its most recent earnings report. More