The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Jonathan Guilford

NEW YORK, May 1 (Reuters Breakingviews) - General Motors GM.N is taking its financial show on the road. The $44 billion automaker released updated estimates for full-year financial results on Thursday, after scrapping previous guesses undermined by President Donald Trump’s tariff twists. With some relief in hand, boss Mary Barra says import levies could cost up to $5 billion. With more policy changes potentially in store, the bleak numbers should echo beyond Wall Street.

Introduced in March, Trump’s auto tariffs were more severe than anticipated, reaching 25%, alongside complicated exemptions for components that comply with a free-trade agreement signed by the United States, Mexico and Canada. The White House touted $100 billion in potential annual revenue, seemingly enough to wipe out the entire industry’s profit. GM had been conservatively optimistic in January, keeping its forecast without trying to calculate the impact of then-uncertain duties. After reporting strong results at the time, however, spooked investors erased 10% of the company’s market value.

Facing such dire threats, GM sought relief from Team Trump. It got some on Tuesday, with the administration offering rebates on parts, albeit ones that shrink over time. Even more important may be procedures set up around exemptions for North American movement of auto parts. Until that’s settled, or more lasting help is secured, it’s worth applying more pressure in Washington.

Despite the tariff sticker shock, GM is expressing its appreciation. Barra thanked Trump in a letter to investors. Nevertheless, the expected $5 billion hit, which excludes mitigation measures GM said could offset 30% of costs, already has spurred pointed questions to the administration. Motorcycle maker Harley-Davidson HOG.N also on Thursday said the levies could take up to a $175 million toll. CEO Jochen Zeitz wants “to make sure that we are part of the discussion” on any trade deals.

What is especially notable about GM is that it issued projections at all. Many U.S. companies, including Harley, are abandoning guidance, too bewildered by Trump’s tactics to give investors a steer. Barra, however, now has a bigger audience deciphering GM’s financial wonkery.

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CONTEXT NEWS

General Motors said on May 1 that it expects to generate adjusted operating profit between $10 billion and $12.5 billion, down from a maximum of $15.7 billion, after it had scrapped previous guidance in anticipation of White House updates on tariff policies.

The automaker said it now expects a $4 billion to $5 billion impact from import duties, but also that it should be able to mitigate up to 30% of such costs.

President Donald Trump signed an executive order on April 29 offering relief on a previously announced 25% set of levies. Car manufacturers can receive rebates of up to 3.75% on domestically assembled vehicles for one year, falling to 2.5% in the second year.

(Editing by Jeffrey Goldfarb and Pranav Kiran)

((For previous columns by the author, Reuters customers can click on GUILFORD/ Jonathan.Guilford@thomsonreuters.com))