The world’s two largest economies did not cut a deal to avert sweeping U.S. tariffs, which came into effect after midnight. Beijing immediately retaliated.

Still, trade experts said they expect the China tariffs to increase prices paid by U.S. shoppers, since importers typically pass along a share of the cost of those higher taxes to consumers. The tariffs could hike prices for an array of goods, from curtains to saucepans to winter coats.