Proposed Tariffs on China, Canada, and Mexico Raise Concerns for U.S. Retailers and Consumers

Retailers warn of higher prices and supply chain disruptions as President-elect Trump plans sweeping tariff policies to reshape trade relations.

President-elect Donald Trump is proposing tariffs ranging from 10% to 20% on all imports, with specific tariffs of up to 60% on Chinese goods and 25% on goods from Canada and Mexico.
Major U.S. retailers predict significant price increases for consumer goods, with estimates suggesting annual household costs could rise by $2,500 to $7,600 if tariffs are enacted.
Smaller businesses face greater challenges adapting to the tariffs, with some experts warning that the measures could lead to closures or reduced product availability for consumers.
The National Retail Federation highlights potential price hikes across key categories, including apparel, footwear, electronics, and household goods, disproportionately affecting low-income families.
Global trade dynamics could shift as China explores trade diversification, while U.S. allies like Canada and Mexico navigate tensions over supply chain and trade agreement implications.