President Donald Trump’s auto tariffs, which went into effect at 12:01 am ET on Thursday, have the potential to upend a crucial American industry and raise the cost of tens of millions of cars sold every year across the country.

A 25% tariff on imported cars went into effect Thursday, and the same tariff on imported car parts is set to begin within a month. President Trump's tariffs mean that an imported car that used to cost $40,

CNBC breaks down what investors should know about how the additional levies will impact individual vehicles and automakers.

President Trump says the tariffs will encourage investment in U.S. factories, but analysts say car buyers will have to pay thousands more.

General Motors is moving to increase production of light-duty trucks out of its Fort Wayne, Indiana, assembly plant, according to a webcast sent to plant employees and obtained by Reuters. The moves comes after the Trump administration announced 25% tariffs on auto imports.

Donald Trump announced a sweeping new set of reciprocal tariffs on Wednesday, arguing that they would allow the United States to succeed. Trump's tariffs, which he imposed via executive order, are expected to send economic shockwaves around the world.

U.S. President Donald Trump, speaking from the White House on Wednesday, is touting the notion of tariffs as a tool for the country — and criticizing the trade practices of many other nations, including Canada,

President Trump announced a 25% tariff on all foreign-made automobiles. Those tariffs are set to go into effect Thursday.

The president said he would go ahead with auto tariffs industry officials say could decimate Michigan's signature industry, as well as other taxes.