Target-Best Buy Warn New York: Get Ready to Pay More, Blame Trump

Very popular stores in New York are warning shoppers prices will be rising due to Trump's tariffs.

President Donald Trump's 25 percent tariffs on imports from Mexico and Canada took effect this week.

Target Warns New Yorkers To Expect Higher Prices

Target's CEO is warning all shoppers to expect to see prices increase within in the next few days due to President Trump's tariffs on goods from Mexico.

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Target CEO Brian Cornell told CNBC that Target relies heavily on Mexican produce during this time of year.

Cornell warns the 25 percent tariffs may force Target to increase the prices on fruits and vegetables.

New Yorkers should expect to pay more for items like avocados, bananas, strawberries, and other seasonal produce items.

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Best Buy Prices Also Expected To Increase

Meanwhile, Best Buy is also warning New Yorkers about higher prices.

Trump also confirmed new tariffs on Chinese goods on Tuesday. China and Mexico create most of the electronics and appliances the company says.

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"We’ve never seen this kind of breadth of tariffs. This, of course, impacts the whole industry,” Best Buy CEO Corie Barry said on an earnings call.

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