Cornell told CNBC that Target “relies heavily on Mexican produce during the winter months, and the tariffs could force the company to raise prices on fruits and vegetables as soon as this week,” Gabrielle Fonrouge and Jacob Pramuk reported.
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,
Trump finally on Tuesday slammed 25 percent tariffs on certain goods from Canada and Mexico and doubled the ... chair and chief executive officer Brian Cornell said the outlook was still uncertain.
Companies big and small will face higher costs on the goods they buy from other countries — and, may have little recourse but to hike prices themselves.