Whirlpool's shares tumbled 12% on Tuesday after the home appliances maker slashed its full-year earnings forecast and dividend, blaming pressure from rivals loading up on imports ahead of U.S. President Donald Trump's tariffs.

This is effectively delaying the impact of tariffs on appliances being imported by our foreign competitors well into the second half of this year.” While Whirlpool maintains it will eventually benefit from tariffs deterring Asian importers thanks to its significant domestic manufacturing base,