President Trump's tariffs on nearly 70 countries go into effect Thursday, some as high as 40 percent. And while the White House insists the costs will be absorbed by foreign countries, most economists warn that it will lead to higher prices.

Sen. Chris Coons (D-DE) said he thinks, "Your average American household is going to spend thousands of dollars more between now and the end of the year to pay for Trump's tariffs."

The prices of everyday goods, including bananas, coffee, medicines, and wine, are all expected to increase. Clothing and shoes are expected to go up as well since 97 percent of the apparel sold in the U.S. is made in Asia.

In North Carolina, shopper Kristen Silbermann said she's already feeling the effect. "I have seen an increase in prices. Tariffs are a little scary."

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