Matt Pelc was among the car shoppers who had tariffs and potential price increases on his mind as he began researching new Ford Maverick pickups recently. The 35-year-old was in need of a new car following a recent move from Maui to San Diego, and when Ford announced its employee pricing deal last week, he knew it was time to pounce.

According to reporting by Korean JoongAn Daily, Hyundai is one of many foreign car labels that'll be damaged by the trade war. In 2024 the carmaking group sold about 1.7 million cars in the U.S. this past year.

On March 24, Hyundai Motor Group Executive Chairman Euisun Chung stood alongside President Trump and other prominent politicians at the White House to announce that the automaker was making a total $21 billion investment that it will spend over the next four years to increase its annual production capacity to 1.2 million cars in the States.