Import taxes are set to spike under the incoming Trump administration, forcing Americans to pay more for everything from foreign-made sneakers and toys to food, according to new research. The items that are most vulnerable to price spikes from President-elect Donald Trump’s proposed tariffs are ones that currently have low tariffs and those that mostly come from China, the Peterson Institute for International Economics found in a Thursday paper shared first with CNN.
“The only certainty is that new tariffs will be costly for the United States,” the researchers concluded.