Reported about 4 hours ago
Best Buy is bracing for economic impacts as President-elect Donald Trump plans to impose new tariffs on imports from China, Mexico, and Canada starting January 20. CEO Corie Barry stated that most of these costs will likely be passed on to consumers, leading to increased prices for many products, including electronics like TVs and appliances. The company, which sources around 60% of its products from China, is exploring options to mitigate the impact, but its stock has already experienced a decline amid ongoing sales challenges.
Source: YAHOO