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.

The Swedish truck maker’s first-quarter earnings declined sharply due to its sales falling in all regions and in almost all segments, as increased uncertainty surrounding tariffs and their effect on global trade persists.

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