ASML Holding NV reported first-quarter orders that were almost a billion euros less than expected and warned it doesn’t know how to quantify the impact of recent tariff announcements that are threatening to upend the semiconductor industry.

Investors will seek clarity on the risks posed by tariffs U.S. President Donald Trump plans to impose on the semiconductor industry when computer chip equipment maker ASML reports first-quarter earnings on Wednesday.

ASML reported weaker-than-expected orders for its chip-making machines in the first quarter and warned that President Trump’s tariff policies were creating uncertainty for the industry. The Dutch company said Wednesday that while it still expects to grow this year and next,