Press Releases
It’s Not Just Wall Street: Consumer Costs are Going Up
Keep an eye on prices for everyday necessities and compare that to Trump’s empty promises to lower costs just a few months ago. The increase in costs caused by these tariffs might not matter to Trump or his billionaire buddies, but they’re a betrayal to the millions of Americans relying on his pledge to drive costs down.”
Accountable.US Executive Director Tony Carrk
Per CNN:
“Two of America’s largest retailers, Target and Best Buy, warned Tuesday that prices will increase following President Donald Trump’s tariffs on imported goods from Mexico, Canada and China. Target’s CEO said the price increases could happen a lot sooner than you think…
“Target CEO Brian Cornell said in an interview with CNBC Tuesday that Trump’s tariffs on Mexico may force the company to raise prices on fruits and vegetables as soon as this week.
“Cornell said Target relies heavily on Mexican produce imports during the winter. ‘Those are categories where we’ll try to protect pricing, but the consumer will likely see price increases over the next couple of days,’ he said…
“Best Buy also expects tariffs to cause prices to rise. China and Mexico are the top sources for consumer electronics at Best Buy…
“‘We’ve never seen this kind of breadth of tariffs. This, of course, impacts the whole industry,’ Best Buy CEO Corie Barry said on a call with analysts Tuesday. The company expects its vendors to pass along some tariff costs to retailers ‘making price increases for American consumers highly likely.’”
