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.

Economist Dr. Ray Perryman says the current tariff plan, 25 percent on imports from Mexico and 25 percent on imports excluding energy from Canada, could cause widespread job losses that would be felt in East Texas if they were enacted permanently.

Canadian Prime Minister Justin Trudeau announced that Canada would respond with 25% tariffs "against $155 billion worth of American goods."