Donald Trump unleashed China tariffs during his first term that essentially sparked a trade war after the country retaliated with its own U.S. import taxes

Minneapolis Federal Reserve President Neel Kashkari reportedly said on Sunday that retaliatory tariff increases by other countries in response to potential tariff raises by President-elect Donald Trump will create a lot of uncertainty.

The Federal Reserve's Neel Kashkari cautioned that if the tariffs trigger a tit-for-tat response, it could create significant challenges and uncertainty.