President-elect Donald Trump's proposed tariffs on Chinese imports could significantly impact U.S. consumers and retailers, with the National Retail Federation estimating a cost increase of $362 to $624 annually per household. Economists warn that these tariffs could disrupt cost structures for companies like Walmart, Costco, and Target, despite potential benefits from tax cuts. In response, China anticipates economic challenges, with potential export declines and GDP reduction, prompting plans for increased fiscal stimulus. Analysts suggest the trade war could further strain U.S.-China relations, already impacted by past tariffs and the COVID-19 pandemic. Meanwhile, Trump's policies may also influence global markets, with a strong dollar posing challenges to emerging markets and a possible shift in U.S.-led global dynamics. Overall, Trump's return to the presidency brings uncertainty to international trade and economic policies, with potential repercussions for both domestic and global markets.