Trump's tariff plans spark early economic shifts ahead of Black Friday

Donald Trump, set to take office in January, has announced plans to impose 25% tariffs on goods from Canada and Mexico, and increase tariffs on Chinese products by 10%. This has raised concerns among retailers and consumers about potential price increases. Walmart has warned that prices may rise, contradicting the expectations of those who supported Trump to combat inflation. The announcement has unsettled corporate America, particularly in sectors reliant on trade with Canada and Mexico, such as the auto industry and oil imports. Trump's tariff threats are prompting consumers to make purchases sooner to avoid higher costs. Companies are also expected to stockpile inventory in anticipation of the tariffs, which could lead to economic challenges if demand decreases next year.