However, there’s a bit of good news as The Wall Street Journal is reporting that BMW has told U.S. dealers it will absorb tariffs on Mexican-made vehicles. The company will reportedly do this for at least the “next several weeks,” which could save buyers thousands of dollars.

German automaker BMW is telling dealers in the U.S. it will absorb the added cost of new tariffs on its imports from Mexico, at least for the next several weeks, a spokesperson for the company said on Wednesday.

BMW plans to absorb the cost of Trump's tariffs on the M2, 2-series coupe, and 3-series sedan—but only for a short time.

After a fresh wave of tariffs from the United States, Canada and the European Union said they would impose billions in levies on U.S. goods.

Canada announced a slew of new tariffs on U.S. imports Wednesday amid an escalating trade war with President Donald Trump. Trump’s 25% tariffs on Canadian and Mexican goods went into effect last week,