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Best Buy and Target CEOs say prices are about to go up because of tariffs

Prices could go up within the next couple of days.

Cornell told CNBC that half of Target’s goods come from the United States, but the company depends on Mexico for “a significant amount” of fruits and vegetables during winter, potentially leading to more expensive strawberries, bananas, and avocados. “We expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely,” Barry said. However, Commerce Secretary Howard Lutnick told Fox Business that Trump might “work something out” with Canada and Mexico, adding that he could announce a potential compromise on Wednesday.

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