Target, Best Buy Warn US Consumers of Tariff Price Hikes

Target Corp. and Best Buy Co. warned consumers to expect higher prices as a direct result of the tariffs US President Donald Trump imposed on Mexico, Canada and China overnight.

Among the first comments on tariff impact from a major US retailer, Target Chief Executive Officer Brian Cornell told reporters Tuesday that “depending on the level of tariffs, we’re going to have to take some level of action.”