The trade war is starting to hurt American automakers

The trade war is making things difficult for American automakers.

General Motors and Fiat Chrysler reported lower profit Wednesday and cut their forecasts.

GM cited rising commodity prices. Steel and aluminum prices have gone up since the Trump administration imposed tariffs on those imports. That includes domestic steel and aluminum, which are more expensive without the threat of lower-priced imports.

The Trump administration is also considering a tariff on imported cars and trucks, as well as on auto parts. Every car assembled at US auto factories includes parts from foreign manufacturers.

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Shares of GM and Fiat Chrysler fell in pre-market trading, as did shares of rival Ford, which is scheduled to report results after the market closes.