Tariffs on Chinese goods?

President Donald Trump is considering sweeping tariffs on imports from China.

WASHINGTON – President Donald Trump is considering sweeping tariffs on imports from China, with an announcement possible as early as next week. And that has industry groups and some lawmakers scrambling to prevent the next front in a potential trade war that could reverberate across the U.S. economy.

Indications from the White House have officials braced for tariffs across a variety of consumer goods, from apparel to electronics, and even on imported parts for products made in the U.S. The U.S. Chamber of Commerce warns that annual tariffs of as much as $60 billion on Chinese goods would be “devastating.”

Trump’s focus on China could be even more consequential, both at home and abroad, than the recently announced penalty tariffs on steel and aluminum.

On Friday, the National Retail Federation, which recently hosted industry groups to organize opposition to another round of tariffs, convened a conference call to update its members. “They’re all concerned about this,” said David French, vice president for government relations. “Tariffs are a tax on consumers and they’re best used sparingly as tools.”

Trade experts and economists say the tariffs could lead to rising prices for U.S. consumers and businesses without accomplishing one of the president’s stated goals: reducing a trade imbalance of $566 billion.

China, the largest source of the trade imbalance, would likely respond to any tariffs by retaliating with higher import taxes on U.S. goods.

The steel and aluminum tariffs have sparked a response from the European Union, which Friday released a list of U.S. products — from whiskey and motorcycles to breakfast foods and batteries — it plans to introduce duties on if it is not exempted.