The Trump administration is trying to encourage major car manufacturers to shift production to the U.S., but a recent report underscores how much more Americans will have to pay up if that happens.

Ever since President Donald Trump imposed a 25% tariff in April on all imported passenger vehicles, car experts have been concerned that the cost of new vehicles across the industry would take a massive hit.

In May, the administration imposed a separate 25% tariff on auto parts such as engines, transmissions, power-train parts and electrical components. This means even those vehicles already manufactured domestically will be affected by the higher costs of imported auto parts, barring an exemption made for parts that comply with the U.S.-Mexico-Canada Agreement.

The administration sees

See Full Page