Proposed 25% U.S. tariffs on Canada and Mexico could lead to a sharp increase in vehicle prices, auto industry executives and analysts say.

Homes – the most expensive item most Americans ever buy – are about to get even pricier if the Trump administration’s proposed tariffs take effect. An analysis from John Burns Research and Consulting,

"In his first term, President Trump instituted tariffs that helped level the playing field for American industry and workers without hiking inflation. In his second term, he will again use tariffs to raise wages, create jobs, expand investment and deliver economic prosperity," White House spokesperson Kush Desai said.