President-elect Trump is prepared to impose new tariffs once he assumes office in January.

President-elect Donald Trump is set to resume his tariff plans upon taking office, proposing a 25% tariff on imports from China and Mexico, alongside an additional 10% tariff on Chinese goods. This initiative aligns with his campaign promises and aims to address trade imbalances. However, a National Retail Federation study warns that such tariffs could reduce U.S. consumer spending by up to $78 billion annually, raising prices on various goods. Experts suggest these tariffs could exacerbate inflation and provoke retaliatory measures from affected countries, complicating U.S. trade relations.