Soaring demand for Toyota's gasoline-electric hybrids has left suppliers struggling to keep pace, leading to shortages of parts and months-long waits for car buyers, according to four people familiar with the situation.

“The trouble with tariffs, to be succinct, is that they raise prices, slow economic growth, cut profits, increase unemployment, worsen inequality, diminish productivity and increase global tensions,” David Kelly said. “Other than that, they’re fine.”

Trump's auto tariffs are expected to hit virtually all automakers, including American companies that assemble cars in the U.S.

Automakers with plenty of cars on dealer lots have a time advantage as they hone their strategies for passing on President Donald Trump's 25% tariffs, while Toyota's lean inventories could force it to hike customer prices sooner.

President Donald Trump’s 25% tariffs on autos not made in the U.S. and certain auto parts will send ripple effects through an industry that is already being pummeled by steel and aluminum import duties and on-again,

Analysts estimate that the tariffs will significantly increase the prices of new vehicles, adding a few thousand dollars for entry-level models to $10,000 or more for high-end cars and trucks. Higher prices for new vehicles are also likely to nudge used-car prices higher.

Even if you’re not in the market for a new car, U.S. President Donald Trump’s 25% tariffs on auto imports could make owning one more expensive.

A car dealership in Escondido has has purchased more than 20 Toyota hybrids in the last 30 days ahead of Trump's threatened tariffs on imported cars