Secretary Lutnick hedged his bets about the economic sanctions being leveled against Canada and Mexico from tomorrow—and refused to rule out a 25% import duty.

U.S. President Donald Trump said on Monday that there was no chance for Mexico or Canada to prevent 25% tariffs from taking effect on Tuesday, sending financial markets reeling on the prospect of new economic barriers in North America.

Kelley Blue Book says Trump’s tariffs could raise the U.S. price of the average new car – already approaching $49,000 – by $3,000 or more. The price of some full-size pickup trucks could shoot up by $10,