Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.

Concerns are rising over how potential China tariffs from the new Trump administration could impact the tech sector. This includes semiconductors, crucial for smartphone production, given potential shifts in trade policy and relations with Taiwan.

China is ready for dialogue with the United States. President-elect Donald Trump announced the introduction of high tariffs on Chinese products. According to experts, tariffs on Chinese imports might reduce the growth of the world's second-largest economy by one percent.

The National Retail Federation projected that potential tariffs could cost American consumers between $46 billion and $78 billion in annual spending power.