U.S. tariffs on Canadian and Mexican goods will hike prices of North American-produced vehicles by as much as $10,000 each, a consultant said.

President Donald Trump suggested imposing tariffs on auto imports, threatening to drive up the cost of cars further amid plans for tariffs on steel, aluminum, Canada, and Mexico. But economists and the insurance industry say that this will raise auto insurance costs.

Are vehicles and car parts going to cost more? That’s the big question if President Donald Trump’s planned tariffs become a reality. NBC Bay Area business and tech reporter Scott Budman takes a closer look in his video report above.

Asian countries are among the most vulnerable to President Trump’s economic grievances. But they are also best placed to make deals to minimize their exposure.

President Donald Trump’s sweeping tariff threats have been touch and go. As it stands currently, the 25 percent tax on goods from Mexico and Canada is on ice for a month, but a 10 percent tariff on Chinese goods is set to take effect on Tuesday, via an executive order of questionable legality.

Many smaller firms say they’re having to hike prices, freeze expansion plans or absorb a hit to already-thin profit margins as import bills climb. Such businesses employ half the US workforce, so how they cope with Trump’s ramped-up trade war will be crucial to the wider economic impact.