Best Buy says Trump's tariffs could force it to raise prices for consumers
Best Buy says Trump's tariffs could force it to raise prices for consumers
Consumers could face higher prices for electronics if President-elect Donal Trump hits Canada, Mexico and China with new tariffs, Best Buy CEO said.
Summary
Best Buy warned that Trump’s proposed tariffs on imports from China, Mexico, and Canada could raise prices on consumer electronics, as 60% of Best Buy’s inventory comes from China.
Trump plans to impose a baseline 10% tariff on all imports and a 60% tariff on Chinese goods to boost domestic manufacturing.
Retailers like Best Buy and industry groups like the Consumer Technology Association are preparing for supply chain disruptions by importing goods early or sourcing alternatives to avoid higher consumer prices.
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Overheard today "Who really cares if prices go up, anyway?" unironically.
That's when you go ahead and remember them when they were vandalizing gas station pumps with the "I Did That" stickers and crying blood when gas/diesel skyrocketed. Obviously that's different.