The steep decline owed in part to the “reduced manufacture and shipments of imported vehicles, most impacted by tariffs,” Stellantis said.

Stellantis, the maker of Chrysler, Jeep and Ram vehicles, reported a big loss on Monday, which it blamed, in part, on President Trump’s tariffs.

The company also cited a roughly €300 million hit from U.S. tariffs as it lost production and responded to higher duties.