President-elect Donald Trump's proposed tariffs, which include a 10-20% universal tariff on imports and a 60-100% tariff on Chinese goods, could significantly impact American consumers, costing them an estimated $46 billion to $78 billion annually, according to the National Retail Federation (NRF). The tariffs are projected to drive up prices on a wide range of goods, including footwear, which may see price increases of up to 29%, and household appliances, which could rise by up to 31%. Retailers, particularly discount and footwear companies, are likely to struggle to absorb these costs, leading to higher prices for consumers on items such as apparel and toys. NRF CEO Matthew Shay emphasized that these tariffs represent a direct tax on American families, potentially exacerbating inflation during a time of economic uncertainty. While some U.S. manufacturers may benefit from the tariffs, the overall effect is expected to be detrimental to consumers, especially low-income families. Analysts warn that the economic implications of such tariffs could outweigh any benefits from potential tax cuts proposed by Trump in his second term.