Home Depot becomes the latest company to raise their prices due to Trump’s tariffs
Trump tariffs leads to price rise at another major US store
- Home Depot has warned customers that it may need to increase prices on some products in response to Donald Trump's tariff strategy.
- CFO Richard McPhail stated that 'modest price movement' would be necessary in certain categories to mitigate 'significantly higher' import taxes on materials.
- Just under half of Home Depot's stock is imported, and the company has previously considered diversifying its supply base to reduce reliance on any single foreign country.
- The retailer's second-quarter sales were worse than expected, with customer transactions falling, although the average ticket size did increase.
- This follows other US companies, such as AriZona Iced Tea, also indicating potential price rises due to the administration's tariff policies.