Appliance maker’s CEO says results were affected by foreign competitors stockpiling Asian imports into the U.S. ahead of tariffs.

Whirlpool Corp. tumbled as tariff uncertainty upended expected benefits from the levy regime, forcing the appliance-maker to slash its outlook and dividend to shore up its financial position. The stock plunged as much as 14% in New York, the steepest intraday drop since January.

Whirlpool's shares tumbled on Tuesday after the home appliances maker slashed its full-year earnings forecast and dividend, citing pressure from rivals loading up on imports ahead of U.S. President Donald Trump's tariffs.