President Donald Trump told the CEOs of some of the most prominent car manufacturers they better not raise their prices due to tariffs, The Wall Street Journal reported.

Trump said the White House would look unfavorably on the move, causing some of them to fear they would face retribution if they increased prices, sources told the Journal.

Trump announced Wednesday he was placing a 25% tariff on auto imports, a move the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains

The automakers should be grateful for the elimination of former President Joe Biden's program meant to encourage electric vehicle production, Trump said, adding that they would benefit from the tariffs because he was bringing manufacturing back to the U.S., the Journal reported.

"You're going to see prices going down, but it's going to go down specifically because they're going to buy what we're doing, incentivizing companies and even countries with companies to come into America," Trump said at an event announcing the tariffs.

Automakers and industry suppliers have said they will have to raise prices due to tariffs and that bringing back manufacturing to the U.S. could take years, the Journal reported.

"Tariffs, at any level, cannot be offset or absorbed," Ray Scott, chief executive of parts supplier Lear, wrote in an email to employees obtained by the Journal. "A holistic, industrywide approach will be necessary to mitigate the impact."

Vehicle prices could rise 11% to 12% to offset the tariffs, Morgan Stanley analysts said.

A spokesperson for Trump told the Journal the tariffs are about restoring Main Street, reestablishing manufacturing dominance and putting the American people first.

An executive at one of the automakers told the Journal they were baffled by the desire to both impose tariffs — but also tell car companies they couldn't raise prices.

"The math would tell you that's going to cost us multibillions of dollars," an auto executive said. "So who pays for that?"

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