Trump’s most dramatic claim – the 500% tax on imported cars – seemed aimed at those undergoing final assembly in Mexico, though a hypothetical vehicle assembled there could have a significant number of parts sourced from the US.

While tariffs could ignite turmoil, the cost increases could also benefit automakers by presenting an opportunity to raise prices, and create a sellers’ inflation similar to that which padded major corporations’ profits, including some automakers, as inflation soared several years ago, said Isabella Weber, an economist with the University of Massachusetts, Amherst.