FedEx on Tuesday signaled caution for the year ahead and forecast current-quarter profit short of market expectations amid volatile global demand, sending shares of the delivery giant down more than 5% after hours.

FedEx expects a $170 million financial hit this quarter due to President Trump’s trade war, after a change in tariff rules crushed demand for packages shipped to the U.S. from China. In early May, the U.

FedEx Corp. on Tuesday forecast a fiscal first-quarter per-share profit that came in shy of Wall Street’s expectations, sending shares of the package-delivery giant lower in after-hours trade.