Shoppers will not have to wait long to see President Donald Trump’s trade war ripple across store shelves, retail executives say.
Target's CEO said Tuesday that the company could hike prices on fruits and vegetables in coming days in response to tariffs, and Best Buy’s chief executive called price increases “highly likely.” Even Walmart, which has benefited from consumers’ ongoing hunt for savings, recently warned that it’s “not going to be completely immune” from federal import taxes on America’s biggest trade partners.
The warnings pose a challenge to a president who took office pledging to reduce prices “starting on Day One” but has faced stubborn inflation and ongoing shortages of grocery staples from eggs to coffee and chocolate.
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