Retailers say they're ready for potential Trump tariffs

The video discusses the potential impact of tariffs proposed by President-elect Donald Trump on U.S. companies and consumers. Trump plans to impose significant tariffs on goods from trading partners, especially China, which could lead to higher consumer prices. Retailers are considering strategies to manage these tariffs, such as absorbing costs or passing them to consumers. Corporate leaders from Walmart and Lowe's express concerns and readiness to adapt. Economic projections suggest these tariffs could generate significant federal revenue but also increase household costs.

What are some strategies retailers might use in response to the tariffs?

According to the Peterson Institute for International Economics, what could be the financial impact of the tariffs on average U.S. households?