A new car would cost about $5,790 more if President Donald Trump's plans for 25% tariffs on Mexico and Canada go into effect, according to an estimate from Benchmark. Benchmark found that more than 22% of finished cars and about 40% of auto parts come to America from the two trading partners.

There is no question that tariffs will increase the input costs of key components in housing like flooring, millwork, and cabinetry.”

Ford CEO Jim Farley did not mince words with Wall Street on Tuesday, describing the impact from a lasting 25% tariff as being "devastating."