### Trump’s Tariff Plan Sparks Inflation and Trade War Concerns

President-elect Donald Trump’s proposal to implement extensive tariffs has raised alarms among economic experts, who warn that these measures could lead to significant price hikes on numerous everyday goods. Trump's focus on tariffs was a major aspect of his 2024 campaign, appealing to voters frustrated with the current state of the economy. However, experts caution that such moves could reignite inflation and potentially trigger a trade war.

In a series of social media posts on Monday, Trump unveiled plans to impose new tariffs on the United States' top trading partners: Canada, Mexico, and China. During his campaign, Trump suggested imposing tariffs of 10% to 20% on all imports, and even as high as 60% on Chinese imports.

The potential implications of these tariffs are far-reaching. The North American market is highly integrated, and tariffs on imports from Mexico and Canada could cause severe supply chain disruptions. Major retailers like Walmart and Lowe's have already indicated that these tariffs may force them to increase prices for consumers. According to the U.S. Census Bureau, the U.S. imported nearly $400 billion worth of goods from Mexico from January through September of this year. Similarly, the U.S. imports over $400 billion worth of goods from Canada annually, based on 2022 government data. As for China, the U.S. is a significant customer, purchasing approximately 15% of China's total exports according to 2023 data from Trading Economics.

Trump has linked these proposed tariffs to issues such as the flow of migrants and drugs into the United States. Despite the impending economic concerns, Trump is committed to imposing these tariffs immediately after taking office.

Walmart, the biggest retailer in the U.S., is among those preparing to raise prices in response to Trump’s planned tariffs. Companies are already scrambling to adjust, considering moving production out of China, stockpiling inventory, and weighing potential price increases.

In North Carolina, corporations are bracing for the impact of these tariffs on imported goods. Economists warn that the higher costs resulting from tariffs could be passed on to customers, potentially dragging down the economy.

The economic landscape is poised for significant changes as Trump's tariff plans become a reality, prompting concerns about inflation and the stability of international trade relationships.