General Motors said it took a whopping $1.1 billion hit from tariffs in the last quarter, as the true cost of the trade war comes into view across the industry.

While the additional tariff costs weighed on profits, which slumped more than 35% in Q2, General Motors said it was “making solid progress” to mitigate at least 30% of the $4 billion to $5 billion impact it said tariffs would have through 2025 earlier this year.

International rival Stellantis reported yesterday that tariffs had cost it ~$350 million (300 million euros) across the first half of the year.

GM shares were down about 2.5% in premarket trading, despite beating Wall Street estimates.