Republican presidential candidate former President Donald Trump arrives ... [+] for a rally at Festival Park on June 18, 2024 in Racine, Wisconsin. Th

While campaigning for a second term in office, President-elect Donald Trump declared “tariff” to be his “favorite word” and “the most beautiful word in the dictionary.” He regularly said he would use tariffs to raise federal revenue and increase jobs and manufacturing in the United States.

President-elect Trump is set to introduce heavy tariffs on imported goods, continuing from his first term and President Biden's tenure. With proposed taxes of up to 60% on some imports, consumers may face higher prices on items like clothes and electronics.

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

As an increasing number of retailers make plans to prepare for tariffs, the idea of them becomes more looming. Here are eight companies that have been outspoken about tariff risks.

China is ready for dialogue with the United States. President-elect Donald Trump announced the introduction of high tariffs on Chinese products. According to experts, tariffs on Chinese imports might reduce the growth of the world's second-largest economy by 1 percentage point.

US President-elect Donald Trump campaigned on a promise to take a confrontational approach to China, with tariffs as his weapon of choice. But unless his administration adopts a measured approach, his plans may end up harming American businesses and consumers,