Reported about 22 hours ago
Best Buy's CEO, Corie Barry, announced that the recent tariffs imposed by President Trump could lead to increased prices for consumers later this year. Approximately 55% of Best Buy's products are sourced from China, with an additional 20% from Mexico, meaning the company is significantly affected by the new 25% tariffs on imports from these countries. Barry projected that while price changes may take time to manifest, they are likely to be more noticeable in the coming quarters as the tariffs reverberate through supply chains and ultimately impact consumer costs.
Source: YAHOO