On Wednesday two major auto trade groups warned Trump’s administration that introduction of 25% tariff on imported vehicles will result in hundreds thousands jobs losses in the sector, increase prices significantly and threaten investments into self-driving cars, Reuters informs.

Coalition consisting of main foreign producers, including Toyota Motor Corp, Volkswagen AG, BMW AG and Hyundai Motor Co, suggests that duties bear harm to both producers and US consumers. Instead of creating new jobs, these measures will result in their loss in manufacturing and sales of cars and components.

Alliance of Automobile Producers, representing General Motors Co, Ford Motor Co, Daimler AG, Toyota and others in separate request asked administration to stop the process of duties imposition. According to Alliance’s members opinion, measures will cause counter measures on behalf of other countries that will damage position of American producers at global market.

Analysis of 2017 sales showed that 25% tariff will increase average price by $5800, total annual spending of American consumers will rise by $45 billion.

Research of Peterson Institute for International Economics showed that import duties will cost US 195000 jobs, and this number can rise to 62400, if other countries retaliate.