Target and Best Buy CEOs issue grim price warning as tariffs take effect

Target CEO Brian Cornell warned on Tuesday that shoppers will 'likely see price increases over the next couple of days,' as the Trump administration's tariffs came into effect. Best Buy's CEO, Corie Barry, issued a similar warning during the tech retailer's first earnings call of the year. This sent the stock plunging as much as 13 percent in early trading. President Trump launched tariffs against three countries on March 4: most goods from Canada and Mexico were hit with a 25 percent import tax, while products from China received a second 10 percent levy.
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Target and Best Buy CEOs issue grim price warning as tariffs take effect