Target Warns Of Price Hikes Due To Tariffs

Benzinga 2025-03-05

Views 2.6K

Target CEO Brian Cornell has announced that consumer prices for everyday items like strawberries, avocados, and bananas will rise due to recent tariffs. On March 4th, President Donald Trump implemented a 25% tariff on imports from Mexico and Canada and a 10% tariff on Chinese goods to combat drug trafficking and illegal immigration. These tariffs, especially affecting produce imported during winter months, will lead to significant cost increases for consumers. Espy's CEO, Corey Berry, also voiced concerns about the broader retail impact. This news comes amid declining consumer confidence due to inflation and global trade tensions.
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