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.

President Donald Trump's tariffs on Mexico and Canada could take effect next month, with consumers likely to see prices rise for several types of products if they move forward.

Trump on Saturday had directed that 25% tariffs on most imports from the two American partners — and 10% on Canadian energy products — go into effect at midnight Tuesday.