Speculation rises that Trump's tariffs on China may average 20%, impacting GDP growth and prompting potential retaliation from China.

"President-elect Trump has proposed various tariff plans at various times on the import of foreign goods, including a 10% blanket tariff on all imports, a 60% tariff on Chinese goods and 25% tariffs on goods from Mexico and Canada," says Ben Johnston, chief operating officer of Kapitus, a financial services firm that focuses on small business.

Analysts and businesses themselves have warned about the potential price surge, and predict that Trump's current tariff plan would have disproportionate effects on consumer goods and electronics made in China, as the President-elect proposes blanket tariffs on all imports and a levy on Chinese goods that could be upwards of 60 percent .

By bno - Taipei Bureau Across the world, global markets are already grappling with the anticipated economic impact of Donald Trump’s promise to increase tariffs as he prepares to assume the US presidency in less than two weeks.