Shoppers concerned about impact of tariffs WSOC TV [Video]

CHARLOTTE — President Donald Trump is expected to announce a 25% tariff on all steel and aluminum imports on Monday, impacting trade with Canada and Mexico.

The tariffs have sparked concerns about potential price increases for consumer goods and economic repercussions.

The National Retail Federation, the world’s largest retail trade association, published a report in November that considered the potential impacts of increased tariffs under the Trump administration. The report looked specifically at a 10-20% across-the-board tariff increase on U.S. trade partners, and a 60-100% tariff increase on China.

The report suggests significant price hikes on items such as clothing, household appliances and electronics. For example, a new pair of $80 men’s jeans could rise to $100, a $650 new refrigerator could climb 31% to $850, and a $783 laptop might increase to $1,300.

“Across the board, we saw the tariffs would result in price increases,” said Jonathan Gold, vice president of supply chain and …