What happens if President-Elect Trump imposes new tariffs?

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. Retail giants and experts warn of the cost to shoppers, and question if these tariffs will really help U.S. manufacturing. Families could see expenses increase by about $2600 a year if these tariffs are put into place.