By Sarah Nassauer
Shares of big U.S. retailers sold off on Trump's plan to add tariffs ranging from at least 10% to as much as 49% on imports depending on the country of origin.
Walmart, Amazon, Best Buy and Target were lower following the initial announcement. Retailers have warned that tariffs would lead to higher prices for many consumer goods. However, the chains have been negotiating with suppliers to share some of the increased expenses and also boosted inventories ahead of the announcement to buy time to respond.
"While leaders in Washington may not care about higher prices, hardworking American families do," said David French, an executive at the National Retail Federation.
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(END) Dow Jones Newswires
April 02, 2025 17:31 ET (21:31 GMT)
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