Even if you're not in the market for a new car, U.S. President Donald Trump's 25% tariffs on auto imports could make owning one more expensive. The new taxes, which are set to begin April 3 and expand in the following weeks,

Auto tariffs announced by President Donald Trump will likely raise car prices by thousands of dollars, while hiking costs for repairs and insurance, some experts told ABC News. Within hours of the policy rollout, Ferrari said it will raise prices by as much as 10% for some models to compensate for the tariffs.