The announced tariffs could significantly increase costs. But Trump has wiggle room. Vehicles will remain tariff-free until Customs establishes a new process.

President Donald Trump has announced a 25% tariff on imported cars and key auto parts. Here's what it means for new and used car prices.

For many consumers, buying a new car is already a costly challenge. President Donald Trump has now made it even more financially difficult. Trump announced Wednesday he wants to impose a 25 percent tariff on imported cars and parts on the theory that a trade war might boost manufacturing jobs in the United States in the long run.