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US tariffs: how Trump’s tax is hitting Big Tech and beyond
Trump’s tariffs have arrived.
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. Commerce Secretary Howard Lutnick tells Fox Business that President Trump’s administration may announce some kind of changes to the tariffs in place on Mexico and Canada tomorrow, though it apparently won’t be a full pause. The confusion comes after President Trump used an executive order imposing a 10 percent tariff on Chinese goods to also close a loophole called the de minimis exception, which allowed packages valued below $800 to enter the US duty free.
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