Automakers brace for ‘massive’ impact of Trump’s tariffs

Your next car purchase is probably going to be more expensive, thanks to President Donald Trump.

Around 5.3 million vehicles are built in Canada and Mexico, 70 percent of which are destined for the United States. Those vehicles will soon be subject to 25 percent tariffs, which were just announced by the Trump administration. And the companies paying the higher price to import those vehicles are very likely to pass that cost along to the consumer — to you.

You may not see higher MSRPs right away, says Mike Wall, executive director for automotive…