President Donald Trump’s auto tariffs, which went into effect at 12:01 am ET on Thursday, have the potential to upend a crucial American industry and raise the cost of tens of millions of cars sold every year across the country.

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

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.

Analysts estimate President Trump’s auto tariffs could raise the cost of a vehicle by thousands of dollars. Ballpark calculations based on current monthly auto-loan payments and an average American’s income show how that would test U.

TORONTO (AP) — Prime Minister Mark Carney said Thursday that Canada will match U.S. President Donald Trump’s 25% auto tariffs with a tariff on vehicles imported from the United States.

If you want to buy a new or used vehicle in Mississippi, now is the time. That is the word from Marty Milstead, president of the Mississippi Automobile Dealers Association. President Donald Trump said his new tariffs on automobiles and auto parts will punish other countries for unfair trade practices.

Stellantis has “paused production” at some of its Canadian and Mexican auto assembly plants due to the newly announced tariffs — and as a result, some US workers will also be temporarily laid off.

Greg Rempensperger with the Oregon Auto Dealers Association said tariff talks are dominating his work days. Read online:

Automaker Stellantis is temporarily halting production at a plant in Canada and a plant in Mexico shortly after President Donald Trump announced a 25% tariff on imported vehicles.

One manufacturer told NBC News that she had managed to push the existing 45% duty on her products onto American customers.