"US President Donald Trump’s latest proposal to slap a 5% tariff on auto imports from Mexico from June 10th, has US automakers worried. Already, automobile prices are at record highs. Mexican-built cars were 17% of overall US sales in 2018, including relatively profitable large pickup trucks. With automotive components moving between Mexico, US, and Canada several times before being assembled into cars, the cascading impact, could be significant for suppliers, who in some case have exposure to Mexico as high as 25% of their revenue. Undoubtedly, this misdirected move by the White House will backfire on US consumers, with prices of several essential goods like cars, refrigerators, and televisions set to rise." – Vinay Piparsania