President Trump's 25% tariff on foreign cars—and foreign car parts—takes effect next week, and the auto industry is bracing. It could take weeks or months to see the full impact, but those in the market for a new or used car should not be surprised to see noticeably higher prices depending on the brand.

Carmakers are likely to face higher costs regardless of how they respond to President Trump’s 25 percent tariffs on cars and auto parts.