Donald Trump’s re-election could spell trouble for retailers and consumers, especially if his proposal to implement major tariffs on imports comes to fruition.
For retailers, these tariffs would likely translate into significant price hikes across a wide range of everyday goods, and consumers would ultimately bear the brunt.
Autozone (AZO) CEO Philip Daniele told investors during the company’s September earnings call that “If we get tariffs, we will pass those tariff costs back to the consumer.” Meanwhile, Home Depot (HD) CFO Richard McPhail told CNBC the retailer was “closely watching” the situation, and exploring alternative sourcing options outside of Asia.
A recent study by the National Retail Federation (NRF) predicts that in the worst-case scenario, average tariffs could soar to over 50% on many products – far higher than the single-digit rates we see today.
Trump’s tariff proposals are sweeping, with a broad 10% to 20% tariff on imports from all nations, alongside a much steeper 60% to 100% tariff specifically targeting goods from China.
The NRF highlights six key product categories most likely to be hit: apparel, toys, furniture, household appliances, footwear, and travel goods. If enacted, these tariffs could cost Americans between $46 billion and $78 billion in lost purchasing power each year. On average, households could pay an additional $7,600 annually, with lower-income consumers feeling the greatest impact.
Everyday items will see sharp price increases. Products like a $40 toaster could increase to $52, while a pair of athletic sneakers may jump from $90 to $116.
We’ve compiled a list of 10 everyday items likely to see significant price hikes due to these tariff increases, along with their current prices and projected costs. Let’s take a look.
