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.

Sen. Ted Cruz expressed deep misgivings over President Donald Trump’s tariffs, noting that one of the “Big Three” automakers told him the duties will spark major price increases for cars.

President Donald Trump said Sunday that he won’t back down on his sweeping tariffs on imports from most of the world unless countries even out their trade with the U.S., digging in on his plans to implement the taxes that have sent financial markets reeling,

Britain softened demands on automakers to switch to production of electric vehicles on Monday, seeking to alleviate pressure on an industry left reeling from U.S. President Donald Trump's tariffs.