The Trump administration is planning to enact a 25% tariff on vehicles imported into the United States, followed later by a similar tariff on auto parts, sparking concerns about the impact on what consumers pay.

Toyota reported Friday, March 28 that while its global production rose for the second consecutive month, production in North America dropped by 1%.

News of sweeping worldwide tariffs from the Trump Administration has caused a ripple effect from Wall Street to Main Street, as economists predict both short and long-term impacts to everyday goods and luxury items.

U.S. President Donald Trump last Wednesday announced sweeping 25% tariffs on cars "not made in the U.S.," sending shockwaves through global automakers.

Some people in the market for a new vehicle are rushing to claim models on lots, as current inventory is not subject to tariff price hikes.

Shares in automakers including General Motors and Ford Motor Co fell on Wednesday after President Trump announced 25% car tariffs.

Elon Musk’s focus on American-made products at Tesla could shield his company from the brunt of President Trump’s new tariffs on foreign vehicles and automobile parts. While foreign

The Trump administration's 25% tariffs on vehicles and auto parts imported into the U.S. could lead to sticker shock for American consumers, including for those buying cars manufactured domestically, analysts say.