American retailers warned of higher prices on consumers and job losses if President Donald Trump follows through on his threat to raise tariffs on $200 billion of Chinese goods from 10 to 25%.

The National Retail Federation, the trade association for retailers, released a statement on Sunday criticizing Trump's plan.

A sudden tariff increase with less than a week’s notice would severely disrupt U.S. businesses, especially small companies that have limited resources to mitigate the impact. If the administration follows through on this threat, American consumers will face higher prices and U.S. jobs will be lost .

One retail analyst, Greg Melich of Evercore ISI, estimated that if tariffs rise to 25%, it would wipe out retail earnings growth for the next 12 months .

On Monday, most retail stocks fell during early afternoon trading.

Walmart (WMT), Target (TGT), Best Buy (BBY) and Costco (COST) declined 1%. Lowe's (LOW) and Williams Sonoma (WSM) fell 2%.