President Donald Trump's auto tariffs will most likely be shouldered by American consumers, Chinese auto parts suppliers say.

The U.S. government said Wednesday that it will impose 25% tariffs on automobile imports on April 3 and a similar duty on auto parts a month later, as President Donald Trump prepared to announce further trade barriers that could escalate a trade war and upend the global economy.

Trump confirms the 25% tariffs on auto imports will go live at midnight. Read more about those below. Ford stock is getting hit. So are General Motors and Stellantis. Tesla, which won't be hit as badly, trades higher.