Prepare for cars and trucks to get significantly more expensive in the name of Made in America.

I'm David Brancaccio. In Los Angeles, President Trump announced 25% tariffs on cars, trucks, and auto parts imported into the U.S.

This is on top of other import taxes already in effect.

Analysts say tariffs will affect a broad swath of the vehicles sold

in the U.S., both foreign and domestic. Marketplace's Novosafo has more.

President Trump said the new auto tariffs will spur more manufacturing in the U.S.

Right now, a car would be made here, sent to Canada, sent to Mexico, sent all over the place. It's ridiculous.

The president said the auto tariffs will be permanent.

Analysts are forecasting higher prices, thousands of dollars more, per vehicle.

The massive policy changes by the administration have been far more aggressive than anyone expected so far.

In a call with reporters before Trump's announcement,

Jonathan Smoke, chief economist at Cox Automotive,

said the prospect of more tariffs on the auto industry

means some models might disappear from U.S. dealership lots.

Bottom line, lower production, tighter supply,

and higher prices are around the corner, reminiscent of 2021.

The auto tariffs are set to kick in on Thursday of next week, a day after Trump is scheduled to announce so-called reciprocal tariffs on other countries.

I'm Novice Offa for Marketplace.

For another take, I just spoke with Diane Swank, chief economist at the audit tax and advisory firm, KPMG.

She notes the trade policy like this, which does not take the long, more deliberate route through Congress, but instead comes in the form of executive orders and can be triggered, modified, or canceled makes financial planning a special challenge.

Not only our executive order is complicated when it comes to offsetting tax cuts, the Congressional

Office, Budget Office does not score those for reconciliation purposes because they could

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