Some retailers concerned about Trump's proposed tariffs

Raising tariffs could lead to higher price tags.

During his presidential campaign, said he would impose a 10-20% tariff on all imports. Jason Miller, a supply chain expert, said this could result in higher prices for Americans.

"If you're a retailer, you're bringing in a good and it costs you $10. If it suddenly costs you $16, at minimum, you're going to have to raise your selling price by that additional $6," Miller said.

One retailer speaking out about these potential tariffs is Walmart. CFO John David Rainey told CNBC, "Our model is everyday low prices. But there probably will be cases where prices will go up for consumers."

Saloni Firasta-Vastani, a marketing expert, said the increase will be seen only for certain items.

Possibly like apparel and electronics and things like that, that are largely imported from China will see some of those price increases," said Firasta-Vastani.

Douglas Nelson, an economics professor, believes if these tariffs were to take effect, Americans could end up paying hundreds more every year.

"For the average household, somewhere between $800-$1,500/year," said Nelson.

Defending the tariffs, Trump rate to 15% for companies to move their production back to the U.S. Trump has said tariffs will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare.