President-elect Donald Trump on Monday threatened to jack up tariffs on all goods coming in from Canada, Mexico and China immediately upon entering office — and CNN's Kasie Hunt on Tuesday reported that big-name retail chains are already warning of price hikes for customers.
"Tariffs are effectively a tax on imported goods and experts warn that they result in higher prices for goods that Americans buy every day," noted Hunt.
She then added that the CEOs of Columbia Sportswear and AutoZone had warned before the 2024 election that they will have no choice but to raise prices, with Columbia CEO Timothy Boyle saying that "it's going to be very, very difficult to keep products affordable for Americans."
Hunt then played a clip of Walmart CFO John David Rainey flat-out saying that Trump's tariffs "are going to be inflationary" and said that there's no doubt that consumers "are going to pay more" as a result.
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She then turned to a panel discussion in which CNN national affairs correspondent Jeff Zeleny argued that it's very likely that Trump will go through with the tariffs, even if they hurt his own voters' pockets.
"There's one thing that Donald Trump has been consistent on, really above all else, and that is his favorite word of tariffs," he said. "He was elected on this, it shouldn't really be a surprise."
Watch the video below or at this link.