President Donald Trump's major tariffs against Canada and Mexico are scheduled to take effect in just a few more days. Plus, a new tariff against foreign cars is in play as well.

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 said on Saturday that he “couldn’t care less” if car prices spike because of his 25% tariffs on auto imports, saying the levies will prompt more people to buy American cars.

President Donald Trump made official Wednesday his long-promised tariffs for the automotive industry, imposing a 25% import tariff on all cars, light-duty trucks and some car parts imported into the U.S. Trump argued the tariffs will boost domestic manufacturing by forcing American automakers to build cars in the U.S.

A 25% tariff on all vehicles imported into the U.S. won't just cause new car prices to rise. Used car prices will also likely increase, analysts say.

Experts say the 25 percent import fee will make many cars more expensive, but it is not clear when, by how much or which models.

European carmakers are trying to work out how much their prices might have to rise in response to looming U.S. import tariffs, industry sources said.

Oil prices slipped on Monday, heading for a modest quarterly loss, despite a warning from U.S. President Donald Trump that he may impose secondary tariffs on buyers of Russian oil if he feels Moscow is blocking his efforts to end the war in Ukraine.

President Trump said that he “couldn’t care less” if car prices spike because of his 25 percent tariffs on auto imports, saying the levies will prompt more people to buy American cars.