A new car would cost about $5,790 more if President Donald Trump's plans for 25% tariffs on Mexico and Canada go into effect, according to an estimate from Benchmark. Benchmark found that more than 22% of finished cars and about 40% of auto parts come to America from the two trading partners.

Trump’s tariffs on Canada, Mexico, and China are shaking up trade, with a 30-day pause on Mexico’s tariffs. See how this could impact you.

McKercher said the language used by Trump in his tariff directive “gives the game away.” Essentially, by proposing 25 per cent tariffs on Canadian goods, except energy which was set at 10 per cent, Trump is revealing the country’s dependency on cheap Canadian energy and a concern about prices rising too high for Americans.