The 25% auto tariffs, set to take effect on April 3, will apply to imported passenger vehicles, including cars, SUVs, minivans, cargo vans and light trucks, according to a White House statement released after Trump's Oval Office remarks on Wednesday.

Higher production costs driven by Trump administration trade moves will likely push up new vehicle prices, analysts said. That could send more shoppers looking for used cars and trucks, pushing up prices for secondhand vehicles.

President Donald Trump’s auto tariffs could send the cost of a new car soaring. Fixing the car you already have will likely get more costly, too.

"I couldn’t care less. I hope they raise their prices, because if they do, people are gonna buy American-made cars. We have plenty," Trump said.

Higher prices and fewer options are coming if import duties on foreign-made cars persist.

Ferrari, Valeo warn prices will rise if tariffs enforced Auto bosses have little choice but to follow suit, sources say Carmakers weigh price rises, but fear backlash - sources Not all models can up prices without losing sales - analyst BERLIN,