Best Buy anticipates that prices for U.S. consumers will rise if President-elect Donald Trump implements proposed tariff hikes. The company plans to adjust its inventory and pricing strategies in anticipation of these changes, with CEO Corie Barry noting that both vendors and consumers typically share the burden of tariff costs. As Best Buy only imports a small fraction of its products, it relies heavily on international sourcing, particularly from China and Mexico, which could be impacted by new tariffs. Other retailers are also preparing for the potential consequences of increased tariffs.

Source: https://www.supplychaindive.com/news/best-buy-tariff-strategy-expects-prices-to-go-up/734332/