Trump imposed tariffs against Washington’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin. Just after midnight, Trump put 25% taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10% on Canadian energy.

The tariffs imposed on Canada will increase the price of car parts, many of which cross the border multiple times, so it might be a good idea to buy a new car sooner rather than later.