Trump's proposed tariffs could raise prices on electronics and other consumer goods

President-elect Donald Trump plans to impose tariffs on imports from Mexico, Canada, and China, potentially raising prices for many consumer goods. He has proposed a 25% tariff on products from Mexico and Canada and a 10% tariff on Chinese goods. Experts warn that these tariffs could significantly increase costs for items like electronics, footwear, and home goods. For example, laptops and tablets could see price hikes of up to 45%, while smartphones might increase by an average of $213. Retailers are already indicating that they may raise prices in response to the proposed tariffs. Companies like Best Buy and Ikea have expressed concerns about maintaining affordability for consumers if tariffs are enacted.