A slower phase-in for tariffs on auto parts will give manufacturers time to ramp up manufacturing in the U.S. Some warn they will still drive up car prices.

GM executives described various "levers" the carmarker can pull to offset some of the sting of the tariffs, and said the company should benefit from adjustments to the auto tariffs that Trump announced this week.

The Trump administration’s tariffs on imported cars and auto parts will cost General Motors between $4 billion and $5 billion this year, according to a GM letter to shareholders. CNN’s Erin Burnett interviews GM CEO Mary Barra about the impact of Trump’s tariffs.