The performance of car stocks just hasn’t lined up with the threat of new import tariffs. There are a couple of reasons for that, but investors should consider whether a change is coming as President Donald Trump’s threat likely becomes a reality in a few weeks.

President Donald Trump said he would likely impose tariffs on automobile, semiconductor and pharmaceutical imports of around 25%, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the president’s trade war.

President Trump said on Friday that he planned to move forward with tariffs on foreign cars on April 2, but did not specify how much the tariffs would be or which nations could be targeted.