Retail Giants Warn of Consumer Price Hikes Due to Trump Tariffs

Fortune 500 CEOs are warning that President-elect Donald Trump's proposed tariffs on imports from China, Mexico, and Canada will lead to higher consumer prices. Executives from companies like Best Buy, Ikea, and Walmart express concerns that these tariffs will increase costs, which will be passed on to consumers, affecting affordability and potentially leading to inflation. The impact is expected to be industry-wide, affecting sectors such as furniture and consumer electronics, with companies struggling to maintain low prices.