New York (CNN Business) If President Donald Trump's proposed tariffs on Mexican products go through, Chipotle burritos could get a little more expensive.

Trump said last week that unless "the illegal migration crisis is alleviated," a 5% tariff on all goods imported from Mexico would kick in on June 10. After that, they would continue to increase, potentially reaching 25% by October.

That's bad news for Chipotle. If the threatened tariffs are put in place, the company's costs would rise $15 million this year, pinching its profit margin, Chipotle Chief Financial Officer Jack Hartung said in a statement Monday.

He added that if the tariffs become permanent, Chipotle "could also consider passing on these costs through a modest price increase, such as about a nickel on a burrito."

Chipotle burritos are one item that could get more expensive if Mexican tariffs go through.

Chipotle CMG would try to offset the costs by continuing its current efforts to improve margins, Hartung added.