Volvo AB’s income declined in the first quarter as uncertainty around US tariffs hit demand for trucks in North America.

Truck maker Volvo lowered its North America market outlook on Wednesday, pointing to increased uncertainty around tariffs and their impact on global trade, as it reported a bigger-than-expected fall in first-quarter profit.

The truck maker’s earnings fell sharply, missing analysts’ expectations, as sales declined 7% and deliveries fell 12% amid increasing uncertainty about U.S. tariffs.