Porsche AG cut its guidance for the year once again to reflect the EU-U.S. trade agreement as well as potential price adjustments to shield its finances after the company took a hit of around $1.27 billion amid a host of challenges.

Despite the contours of a preliminary trade deal, German automakers Mercedes and Porsche are still in a world of pain, suffering from the strain of Trump’s tariffs and shifting consumer preferences in markets like the US and China.

Mercedes-Benz Group AG and Porsche AG scaled back their profit expectations for the year, underscoring the toll President Donald Trump’s trade war is taking on some of Europe’s largest luxury-car makers.