Businesses have been lobbying Congress and preparing legal challenges to push back on Trump’s proposal to enact tariffs on all imports.

An analysis by the nonpartisan Peterson Institute for International Economics estimates Trump’s proposed tariffs would cost a typical U.S. household more than $2,600 a year. “High tariffs also imply a massive shifting of the tax burden from richer taxpayers toward lower-income Americans,” the report said.

President-elect Donald Trump has promised to impose steep tariffs once he takes office. So what impact would that have on your wallet?

President-elect Donald Trump campaigned on raising tariffs -- especially on products from China -- as a way to boost manufacturing in the U.S. Carter Evans met a California business owner who's worried about the impact the tariffs could have if enacted.