The economy loomed large for voters, but what's next under a second Trump administration? Karin Caifa reports. - President-elect Donald Trump still has a couple of months until he takes office, but companies are already preparing how to do business if Trump delivers on his promise of imposing tariffs on imported goods.
Retailers that depend on foreign suppliers are preparing to hike prices and pass along the cost of Trump’s proposed import tariffs to consumers. “We’ll generally raise prices ahead of, we know what the tariffs will be, we generally raise prices ahead of that,” Daniele said.“Obviously, coming out of the gate, there would be price increases associated with tariffs that we put into the market,” he said., Americans could lose between $46 billion and $78 billion in spending power every year on products like clothing, toys, furniture, appliances and travel goods due to Trump’s proposed tariffs.
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