Best Buy CEO warns tariffs could raise gadget prices

Best Buy President Hubert Joly warned that consumers are likely to be affected by price increases as a result of round-robin reports proposed by the Trump government Reuters . "The impact of tariffs by 25% will result in price increases and will be perceived by American consumers," the CEO said on today's earnings call.

The comments have arrived just over a month before the date on which a public hearing will be held on June 17, in which the 3,805 products that will be affected by tariffs of up to 25% will be discussed. This list includes devices such as laptops, cell phones and tablets, as well as other everyday items such as clothing, books, sheets and fresh products. If approved, rates could be applied as of the end of June.

The CEO's comments echo the predictions made by financial analysts, who argue that Trump administration fees are likely to apply to US companies or US households, rather than hitting China. exporters Some importers based in the United States (such as Apple) may have profit margins large enough to absorb the impact of tariffs without passing them on to consumers, but others, such as Best Buy, may be forced to approve some or all the cost in.

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