(Reuters) - Luxury carmaker Aston Martin (LON: AML ) said on Wednesday it was limiting exports to the U.S. to offset impact from President Donald Trump’s tariffs, and reported a narrower-than-expected first-quarter loss on lower expenses and higher average prices.

Global automakers have been hit hard by Trump’s 25% tariffs on all imported vehicles and foreign-made auto parts - a key escalation in a broader trade war that risks disrupting the global economy. Some of those tariffs were eased on Tuesday.

The more than 110-year-old company reported an adjusted pretax loss of 79.8 million pounds ($106.8 million) for the three-month period ended March 31, compared with 110.5 million pounds a year ago, and analysts’ average consensus estimate of 89 million pounds.

($1 = 0.7469 pounds)