Consumers to bear brunt of US tariffs

Retailers concerned over prospects of Trump's levy plans, observers say

US retailers are creating contingency plans to deal with the prospect of President-elect Donald Trump's proposed tariffs as he heads back to the White House.

Trump floated levies of 60 percent on imported goods from China and 20 percent on all imported goods into the United States while he was a presidential candidate. He may also enact a 100 percent tariff on nations that don't use the US dollar and slap high tariffs on cars built in Mexico.

"Tariffs are the greatest thing ever invented," Trump said in September in Flint, Michigan.