Holiday shopping may be more costly next year due to potential tariffs [Video]

Economists warn that holiday shopping may become more expensive next year if President-elect Donald Trump follows through on his promise of tariffs.Several large retailers like Walmart and Stanley Black & Decker vow to raise prices if Trump implements tariffs.Other businesses are doing whatever they can to avoid raising prices. Jason Junod, who owns Bare Botanics in Wisconsin, said on election night, Junod bought a year’s worth of brushes he imports from China, anticipating new tariffs after the inauguration.”The extent he talked about it on the campaign trail and how fired up he seems to be over it, I think we have to take him seriously,” Junod said.Trump has said, “To me, the most beautiful word in the dictionary is ‘tariff,'” and is vowing to impose 25% tariffs on everything imported from Mexico and Canada and 60% on certain products from China. Economists have criticized the policy.”That’s a very bad idea …