Automaker stocks could be hit incredibly hard this week if the tariffs actually go through

Tariffs imposed by President Trump on Canada and Mexico will affect automakers in North America and could lead to a $3,000 increase in vehicle prices

Trump blames migrants, drugs, and trade deficits for the tariffs

In the first week, automakers will be severely impacted and may have to shut down

Tariffs will hit almost 25% of the 16 million vehicles sold in the US every year

Automakers in Mexico have been importing more components and vehicles preemptively to prepare

$60 billion in industry costs could be passed on to consumers

The average price of a new car may rise by $3,000

Concerns about how many times vehicles cross borders during production and how it will be impacted

$GM is expected to be significantly affected because they deal with large cross-border movements

Nissan, VW, and Mazda source the highest percentage of components from Canada and Mexico

GM has around 40% but has the highest production volume

Uncertainty about whether the tariffs will actually be implemented and their ultimate impact

$GM (General Motors)

Nissan, VW, Mazda (stocks not mentioned)