No automaker will be truly immune from the effects of the tariffs, but some will be in a particularly bad spot.

The tariffs are an expansion of those Trump signed in 2018, when a 25 percent steel duty and a 10 percent aluminum levy went into effect. Over time, the first Trump administration and the Biden administration issued exemptions for a large number of U.S. trading partners. Those no longer apply.

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.

The auto tariffs will be felt sharply in Europe, for whom the U.S. is the biggest export market for an industry that supports nearly 14 million jobs.

President Trump says the tariffs will encourage investment in U.S. factories, but analysts say car buyers will have to pay thousands more.

The Trump 25% foreign auto tariffs could result in six-figure hikes for American buyers of high-end cars with a major exception

China said it will impose reciprocal 34% tariffs on all imports from the United States starting April 10, in retaliation to President Donald Trump’s trade war. •

The Dow, S&P 500 and Nasdaq fell sharply after Trump slapped tariffs on a host of countries including China, Vietnam, Taiwan, while also blasting the European Union. FOX Business is providing real-time updates on the markets,

"Mercedes-Benz continues to seek sales growth for its highly desirable vehicles," the company said in a statement to Reuters.