Groceries that are most likely to be affected are those that are hard to produce in the U.S., like coffee, bananas, or cocoa.

Walmart might have to hike costs if some of President-elect Trump's tariffs take effect, the company's CFO told CNBC's Melissa Repko on Tuesday. Why it matters: Consumers could lose between $46 billion and $78 billion in spending power each year if new tariffs on imports to the U.

Tariffs could raise prices on clothing, toys, furniture, appliances, footwear and travel goods, particularly items where China is a major supplier.

He thinks Trump is serious about his campaign promise to impose tariffs of 60% on all Chinese goods. American businesses are dusting off a playbook they used during Trump’s first term: stocking up on imported goods before tariffs are enacted.

Switzerland said on Tuesday it was concerned by U.S. President-elect Donald Trump's proposals to raise tariffs and is considering how to respond if his new administration does so. Trump aims to shift the aggressive trade agenda from his first term into higher gear with across-the-board 10% tariffs on imported goods and even higher levies on imports from China.

Walmart, the biggest retailer in the U.S., is the latest to indicate it may raise prices if President-elect Trump's planned tariffs take effect. The big picture: Trump has vowed to impose sweeping tariffs in his next administration,