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

He thinks Trump is serious about his campaign promise to impose tariffs of 60% on all Chinese goods. American businesses are dusting off a playbook they used during Trump’s first term: stocking up on imported goods before tariffs are enacted.

Our model is everyday low prices,” CFO John David Rainey said. “But there probably will be cases where prices will go up for consumers.”