Republican U.S. President Donald Trump on Monday floated the idea of universal tariffs but said the United States was not yet ready for such a step.

The incoming president has floated numerous tariff plans. Retailers say their livelihood could depend on which ultimately come to fruition.

President Donald Trump isn’t expected to carry through on his threat to impose sweeping tariffs on the first day of his presidency, a move that economists have warned could lead to higher prices for Americans and hurt U.