The current price of Dollar Tree's products may increase again due to President-elect Donald Trump’s tariff plans, Dollar Tree executives said.

Apart from increased prices, the discount retailer said that the proposed tariffs could also change what products customers could find at Dollar Tree stores.

During an earnings call on Wednesday, Dollar Tree CEO Michael Creedon said that Trump’s plans to tax imported goods may lead to altered product sizes, or in some cases removing them from stores altogether if they become too expensive.

“We believe there is a wide range of potential actions that we can take to help mitigate additional tariffs if and when they materialize,” Creedon said during the call.

Creedon did not say during the earnings call what products could be affected by the proposed tariffs, which could also affect Family Dollar stores, also owned by Dollar Tree.

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What tariffs are proposed?

President-elect Trump has threatened to enact 25% tariffs on products from Mexico and Canada. In addition to these, Trump has also threatened a 10% tariff on products from China. 

An analysis done by KeyBanc Capital Markets estimated that 40% of Dollar Tree’s sales rely on imported goods, many of which come from China. In response to this, Dollar Tree said it would negotiate with vendors and change which countries with which it would be importing goods. 

The same tactic was used by the company the last time Trump imposed tariffs during his first administration.

“Back in 2018 and 2019 when we last dealt with this issue, we were able to mitigate the majority of the potential impact by negotiating lower costs with our suppliers, changing product specs or pack sizes, or dropping noneconomical items. Today, all three of those options are still at our disposal,” Creedon said.

Dollar Tree not the only company that could raise prices

Other retailers like Walmart and Best Buy have said they could be forced to raise prices due to the proposed tariffs. 

"We're concerned that significantly increased tariffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation," a Walmart spokesperson told Reuters.

Fernando Cervantes Jr. is a trending news reporter for USA TODAY. Reach him at [email protected] and follow him on X @fern_cerv_.