BETHESDA, Md. (DC News Now) -- News of sweeping worldwide tariffs from the Trump Administration has caused a ripple effect from Wall Street to Main Street, as economists predict both short and long-term impacts to everyday goods and luxury items. A 25% tariff on cars and car parts shipped into th e United States started Thursday, and a baseline tariff of 10% for other nations will soon follow. 2 people charged for defacing Teslas in DC with ‘political hate speech’ The White House claims these tariffs will drive businesses to do business in the U.S., as Press Secretary Karoline Leavitt reiterated Thursday morning, "There’s not going to be any pain for American-owned companies and American workers because their jobs are going to come back home," she said in an interview with DC News Now network partner News Nation. But some small business owners who haven’t seen jobs moved overseas, see it differently. “We’re not seeing it now, but ultimately it’s going to happen," said 1st Choice Collision owner Norberto Carmona of North Bethesda. The body shop owner of 15 years predicts similar shops won't be able to absorb costs without passing the price on to consumers. “Paint materials are going to go up, ultimately. The bumpers, the parts, we have foreign vehicles; a Toyota bumper, the price is going to go up, so we have to jack up our prices a little bit just to make that balance," Carmona said Thursday. A spokesperson for the Insurance Information Institute explained, "Some auto insurers have indicated the tariffs could lead to higher premiums by the end of 2025. For all consumers, auto rates would not change until their insurance policy is up for renewal. No premium changes will be implemented on existing policies.” Aside from vehicle price hikes, American University Economics Professor Kara Reynolds predicts several day-to-day commodities imported into the US will rise in costs. "If you know you’re gonna need some of those summer sandals for your four-year-old, maybe go out and try to buy them now," she said Thursday; speaking of anticipated higher clothing costs. “Things like food, products, or avocado, your bananas, tomatoes, you’re going to see those have the price increase soon, I think within a few weeks, honestly," Reynolds said. Back at the body shop, Carmona advises drivers to shop around before dropping off the car, saying, "We do our best to give you the best price possible, considering what we are going through right now. But, definitely get your three estimates and make your decision based on that.” ...read more read less