If you’ve been eyeing a new car or planning to upgrade your gadgets, you might want to brace yourself for higher prices. President Trump’s recent executive orders have slapped hefty tariffs on imports from Canada, China, and Mexico, and experts say these changes could hit consumers hard.

The tariffs, which include a 25 percent increase on goods from Canada and Mexico and a 10 percent hike on Chinese goods, are set to shake up the economy in a big way. The auto industry is expected to take a major blow, with car prices potentially rising by $3,000. And it’s not just cars—tech lovers could face steeper costs for laptops (up 68 percent), game consoles (up 58 percent), and smartphones (up 37 percent), according to research from the Consumer Technology Association.

Trump’s reasoning? He claims these tariffs are necessary to protect national security and curb illegal drug and immigration issues. But critics argue the plan could backfire, hurting American families instead. For instance, Bloomberg reports that nearly a quarter of the 16 billion cars sold annually in the U.S. could be affected, adding billions in industry costs. Even Tesla isn’t immune—its Canadian supplier, Laval Tool, could face higher costs for Cybertruck molds, which are already pricey at $500,000 each.

The ripple effects don’t stop there. Online shoppers might feel the pinch too. Trump’s orders target the “de minimis” rule that allows duty-free shipments under $800. This could make items from platforms like Temu and Shein more expensive, as the U.S. aims to crack down on illegal shipments.

Mexico has already negotiated a one-month pause on tariffs, promising to reinforce the U.S.-Mexico border with 10,000 National Guard troops. Meanwhile, Canada isn’t playing nice either—they’ve imposed retaliatory tariffs on U.S. goods like beverages, cosmetics, and paper products. If tensions escalate, the auto industry could face even more disruptions, with Canadian auto parts manufacturers warning of a potential shutdown.

Trump insists the tariffs are necessary, calling the short-term costs “a little pain” for long-term gain. But for everyday Americans, that pain might mean digging deeper into their wallets for cars, tech, and even online shopping.

As the trade disputes unfold, one thing’s clear: the financial impact of these tariffs could be far-reaching, leaving consumers to foot the bill.