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.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
April 02, 2025 17:31 ET (21:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.