Toyota is sounding the loudest warning bell yet about tariffs. The automaker said it expected its profits to be $9.5 billion lower this year because of the Trump tariffs on cars imported to the U.S. Other major automakers have also warned of multi-billion dollar hits.

Toyota Motor Corp. lowered its annual guidance as it warned of a $9.5-billion hit to its bottom line from U.S. tariffs that have rattled the global automotive industry.

TOKYO (AP) — Toyota’s profit plunged 37% in the April-June quarter, the company said Thursday, cutting its full year earnings forecasts largely because of President Donald Trump’s tariffs.