The company, which owns Jeep, Peugeot, Fiat and other brands, said it might soon have to begin raising prices.

This earnings season is revealing the real impact of President Trump’s steep tariffs on European automakers. CNBC’s Silvia Amaro takes a look under the hood.

General Motors and Stellantis warn that the tariffs will have a significantly greater effect in the second half of the year.

The car company behind the brands Vauxhall, Jeep and Fiat says US President Donald Trump's tariffs have already cost it €300m (£259.6m, $349.2m). Stellantis said the financial hit was a result of tariffs impacting trade and the company's loss of planned production in its response to the them.

The company reported preliminary losses of $2.7 billion on $83 billion in revenue for the first six months of the year, compared to a profit of $6.5 billion on nearly $100 million in revenue in

“A world with tariffs is unacceptable for us,” Beato said. “A world with tariffs puts our plant in a vulnerable position, even more so than it is now, and not only for our plant, but all of southern Ontario and the whole auto industry.”

General Motors was the second auto company this week, after Stellantis, to show the toll that President Trump’s trade policies are taking on the industry.