Groceries that are most likely to be affected are those that are hard to produce in the U.S., like coffee, bananas, or cocoa.

Walmart has signaled price hikes should be expected if President-elect Donald Trump makes good on his plan to implement a broad tariff regime. The retailer's CFO John David Rainey said the company would likely have to raise its prices,

Walmart might have to hike costs if some of President-elect Trump's tariffs take effect, the company's CFO told CNBC's Melissa Repko on Tuesday. Why it matters: Consumers could lose between $46 billion and $78 billion in spending power each year if new tariffs on imports to the U.

Corporate executives were taking a wait-and-see approach to President-elect Donald Trump's vow to impose heavy tariffs on imports when he takes office in January, but many have raised concerns about the effect such levies will have on inflation.

On the campaign trail, Trump pledged to impose a tariff on all goods between 10-20%. He vowed to tax imports from Mexico, the U.S.'s No. 1 trading partner, by at least 25% if the country doesn't help mitigate immigration to the U.S., USA TODAY reported. Also, he has suggested a 60% tariff on Chinese goods.