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.

June quarter and it lowered its full year earnings forecasts, largely because of President Donald Trump’s tariffs.

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.