Walmart — the world's largest retailer — is now issuing a warning to customers that they may be paying more for the same products if President-elect Donald Trump makes good on his promise to impose new tariffs on imports.

The National Retail Federation projected that potential tariffs could cost American consumers between $46 billion and $78 billion in annual spending power.

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