Costco's top executive is warning customers that a big change is on the horizon.

The president and chief executive officer for the popular wholesale club, Ron Vachris, spoke candidly during Costco's most recent earnings call about how tariffs could affect consumers.

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As Americans reel from the stock market's reaction to Donald Trump's widespread tariffs and brace themselves for higher prices for imported goods, Vachris reassured shareholders that the retail giant is ready to pivot in the face of retaliatory tariffs which could affect inventory from international suppliers.

When Vachris was asked if there would be a more aggressive effort to find goods from countries less impacted by tariffs, he said, "With our flexibility of the treasure hunt, there's not many items that we can't find something to replace or something else to bring in."

Vachris continued, noting that he feels "our people are very well equipped to deal with anything coming our way with our reduced SKU model... we have great partnerships with our suppliers, and those items are very important to them as well."

However, the Costco exec caveated his positive outlook, explaining that those pivots are unpredictable. "I can't really tell you what the outcome will be, but our people are nimble and they're ready to go at it if they need to," he said.

It's too soon to know how Costco's inventory will be affected by the tariffs, but JPMorgan CEO Jamie Dimonis sounding the alarm on how they could affect the American economy and the global economy at large.

In his annual letter to shareholders, Dimon said "The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession."

The influential business leader continued, stating, "Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth."

"America First is fine, as long as it doesn't end up being America alone. If the Western world's military and economic alliances were to fragment, America itself would inevitably weaken over time," he said.