Trump's recent tariffs imposed on imports from Canada, Mexico, and China could result in significant price hikes for consumers, starting within days. Target's CEO, Brian Cornell, highlighted that their reliance on Mexican produce during winter could particularly impact prices for fruits such as strawberries and avocados. Similarly, Best Buy's CEO, Corie Barry, expressed that their vendors would likely pass increased costs to retailers, leading to higher prices for consumers. While the tariffs are firmly in place, Commerce Secretary Howard Lutnick indicated potential for negotiations to arise, particularly with Canada and Mexico.
Target CEO Brian Cornell mentioned that consumers will 'likely see prices increase over the next couple of days,' as tariffs drive up costs for goods imported from Mexico, Canada, and China.
Best Buy CEO Corie Barry stated that price increases for 'American consumers [are] highly likely' as vendors pass along tariff costs, highlighting reliance on imports from China and Mexico.
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