While Black Friday 2024 won’t be harmed, if the new Trump tariffs become reality, shoppers could be in for a major shock over the year to come.

While China could offset American tariffs by letting its currency fall, that might endanger Beijing’s recent efforts to stabilize the economy.

A bit more than 50 days before taking the oath of office a second time, Trump took to social media this week to threaten the top three U.S. trading partners (Mexico, Canada, China). He vowed to impose tariffs of 25% on all products coming from our next-door neighbors, and to levy an additional 10% import duty on goods from America’s Asian rival.

Economists worry that Trump's tariff plan will raise the prices of a range of imported goods, from cars to electronics.

The president-elect said that he would impose the across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.

Mexican President Claudia Sheinbaum has suggested Mexico could retaliate with tariffs of its own, after U.S. President-elect Donald Trump threatened to impose 25% tariffs on Mexican goods if the count