The hope is that tariffs increase domestic production, often at a cost. Retail, fashion, beauty, electronics, and automobiles are just a few industries likely to suffer as tariffs are implemented. The projected cost increase for any tariffs placed on the aerospace industry could be as much as 10% to 15%. Tariffs would quickly raise costs for any business or consumer industry heavily relying on plastic. Tariffs will unquestionably lead to higher vehicle prices overall, with some experts predicting as much as a $4,000 to $7,000 increase if tariffs are implemented in China.