President Trump's tariffs are going to affect products imported by U.S. companies, with importing companies likely to pass on those costs to consumers through higher prices.

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The president said he would go ahead with auto tariffs industry officials say could decimate Michigan's signature industry, as well as other taxes.

President Donald Trump's new taxes on cars and car parts assembled outside the U.S. kicked in and car dealerships say they've seen an uptick in sales and foot traffic.

U.S. President Donald Trump's 25% tariff on auto imports may cost American consumers more than $30 billion in higher vehicle prices and reduced car sales in the first full year, consultancy firm Anderson Economic Group said in a report on Thursday.

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.

Reed Cowan talks to Autotrader Executive Editor Brian Moody about the broad effects of the new Trump tariffs on the price of cars and auto parts.

President Trump announced this week that a 25% tax will be tacked on to all auto imports starting April 3, as part of his plan to rebuild America's manufacturing base. For John Graff, it's the reason he's buying a car today instead of waiting.

However, over the past six months, Tesla stock price has gained 17.5%. On a one-year basis, Tesla shares have surged 68%.