Stellantis said Monday that it swung to a net loss in the first half of the year, as the Big Three automaker was hit by tariffs as well as restructuring costs and a sales slump.

Stellantis reported a preliminary $2.7 billion first-half loss while dealing with the impact of U.S. tariffs on vehicles and auto parts.

Stellantis expects to swing to a net loss of €2.3bn for the first half of the year, as the owner of car brands including Jeep and Fiat grapples with restructuring costs and the impact of US President Donald Trump’s tariffs.