US 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.
Numerous major corporations discussed the issue of tariffs at recent investor events and on conference calls, including some after the November 5 election, when Trump defeated sitting Vice President Kamala Harris in the race for the White House.
Walmart, America's largest retailer, suggested on Tuesday after reporting results, that prices could increase if tariffs rise.
Trump has vowed to make tariffs, which are a fraction of U.S. tax collections, central to his economic agenda.
Executives have been increasingly fielding questions on the subject, with many noting ongoing efforts to continue to diversify their supply chains, particularly away from China, Trump's top target.
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