U.S. industrial conglomerate 3M Co cut its forecast for 2025 profit on Tuesday as tariff tensions mount.

Global trade tensions have heightened since China imposed a 125% tariff on U.S. imports, retaliating against President Donald Trump’s decision to raise tariffs for Chinese imports to 145%.

The St. Paul, Minnesota-based company now expects a tariff-related negative impact of $0.20 to $0.40 per share on its full-year adjusted profit forecast of $7.60 to $7.90.

The company’s adjusted net sales for the first quarter came in at $5.8 billion, down nearly 25% from $7.72 billion a year earlier.

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