The analysis: President-elect Donald Trump’s universal tariff proposals would cause the prices of products ranging from toys to furniture to household appliances to skyrocket, per a National Retail Federation report.
- Trump said he will impose a 10% or 20% tariff on all imports across the board, along with an additional tariff of between 60% and 100% for products imported from China. And this week he said that he would set tariffs between 25% and 100% on goods imported from Mexico—the US’ largest trading partner—if it didn’t close the border.
- The additional costs associated with the proposed tariffs would be too large for many US retailers to absorb.