American buyers of Ferrari’s (RACE) luxury vehicles will soon have to pay higher prices, as the Italian automaker looks to offset the burden of President Donald Trump’s tariffs.

Ferrari RACE.MI plans to increase the prices of some of its cars sold in the United States in response to new tariffs, the luxury carmaker said on Thursday, adding it would stick largely to its financial targets for this year.

Luxury Italian carmaker Ferrari said Thursday it would increase its prices on most of its vehicles sold to the US from next week following Donald Trump's announcement of steep tariffs. Ferrari said Thursday that the impact of the tariffs would be partially reflected in its pricing for almost all imports after April 2.