Trump has made clear he will use tariffs — many of which he can enact without Congress’ approval — to an unprecedented degree as a bludgeon against allies and rivals alike to achieve domestic and foreign policy goals. Rising inflation as tariffs result in higher prices on imports such as cars, electronics, food, and clothing.

The president-elect plans to raise tariffs by an additional 10% on all Chinese goods coming into the U.S., according to a post on his social media platform Truth Social.