DETROIT — General Motors said it expects a $500 million tariff refund following a U.S. Supreme Court decision that struck down some emergency levies imposed by former President Donald Trump. The automaker also raised its 2026 earnings guidance, citing lower projected tariff costs.

The Supreme Court ruled in February that levies Trump imposed using the International Emergency Economic Powers Act were illegal. The president had imposed the IEEPA tariffs by declaring a national emergency. The duties included reciprocal tariffs on imports from nearly every country, trafficking tariffs on imports from Mexico, Canada and China, and separate duties on imports from Brazil and India.

GM said it is now looking to earn $13.5 billion to $15.5 billion in earnings before interest and taxes for 2026, up from prior forecasts of $13 billion to $15 billion. The company anticipates paying $2.5 billion to $3.5 billion in tariff costs for 2026, down from an original estimate of $3 billion to $4 billion. For the first quarter of 2026, the automaker reported earnings of $2.63 billion and revenue of $43.62 billion. "We are clearly operating in a very dynamic environment, which isn't unusual for this industry," Chief Executive Officer Mary Barra wrote in a letter to shareholders.

The company has not yet received the expected refund and does not have a specific estimate for when it will be issued. Tariffs imposed under section 232 of the Trade Expansion Act of 1962 remain in effect, and companies such as GM are continuing to pay those duties on foreign steel, aluminum, cars and other products. The administration has signaled that new duties are on the way.

Companies both big and small are seeking refunds for tariffs paid under the IEEPA. The U.S. Customs and Border Protection agency launched an online system for IEEPA tariff claims last week. If the agency approves a claim, it will take between 60 and 90 days for a refund to be issued, according to Customs and Border Protection. The agency said in court filings that more than 330,000 importers paid about $166 billion on over 53 million shipments.

Last week, Trump said he would "remember" those that do not seek refunds from IEEPA tariffs. "I think it's brilliant if they don't do that," he said. "If they don't do that, they got to know me very well."