CEO Brian Cornell says that tariffs on imports from Mexico, Canada, and China could increase prices "over the next couple of days."
Automakers got a one-month exemption yesterday from the 25% tariffs on imports from Canada and Mexico—a glimmer of hope that sparked a Wall Street rally. But Target CEO Brian Cornell and other U.S. retailers say they could raise prices on fresh-food imports within days.
Shoppers can expect to see higher prices at the checkout counter – on goods ranging from avocados to computers to Tonka trucks – with some hikes from the new tariffs coming as early as the end of the week,
Target and Best Buy warned consumers to expect higher prices as a direct result of the tariffs US President Donald Trump imposed on Mexico, Canada and China overnight. Target Chief Executive Brian Cornell said its shoppers would likely see price hikes in its stores “over the next couple of days,
President Donald Trump's tariffs hike against Canada, China and Mexico are just starting to ripple through retail.
President Trump’s 25% tariffs on imports from Canada and Mexico went into effect Tuesday, along with a heightened 20% levy on Chinese goods.
CEO Brian Cornell says supply chains are short for fresh fruits and vegetables, and the retailer is reliant on produce from Mexico during the winter.
Target shoppers can expect to see price increases on produce “over the next couple of days,” boss Brian Cornell said on Tuesday.
Target Chief Executive Brian Cornell said its shoppers would likely see price hikes in its stores "over the next couple of days."
Target CEO Brian Cornell warns that prices for fruits and vegetables will likely rise due to new tariffs, while Best Buy CEO Corey Berry anticipates eventual price increases for electronics.