Julieta Contreras (PIIE), Mary E. Lovely (PIIE) and Jing Yan (PIIE)

Americans would soon face higher prices for foreign-made goods if President-elect Donald Trump implements his campaign promises to hike tariffs to 60 percent on imports from China and to as much as 20 percent on all others. Goods likely to see the largest proportional price increases are those now facing low applied tariffs rates and those sourced disproportionately from China.