The Financial Post reports in its Thursday edition that there are many uncertainties about how U.S. President Donald Trump's tariffs will affect the auto industry, but one thing is certain: Vehicle prices are already rising. The Post's Gabriel Friedman writes that it comes as a gut punch to some who believed the auto industry was just returning to a healthy state. The auto sector had been hit hard by inflation, with the average price of a new car in Canada rising 43.2 per cent between 2019 and 2025, and used car prices rose 39.5 per cent during the same time frame, according to data from Autotrader. But in 2024, the average used car price declined by 12.1 per cent. Exactly how much car prices could rise again thanks to the latest tariffs is difficult to predict. J.D. Power earlier this month estimated that 25 per cent U.S. tariffs and counter-tariffs could add $6,000 to the price of a new vehicle, which is a 9.2-per-cent increase given that the average new vehicle in Canada costs $64,600. Eventually, economists say the tariffs could lead to inflation or a recession. "With these tariffs in place, we would expect to see vehicle sales in these countries contract substantially," said Andrew Foran at TD Economics in a note.