Fast Track: (Photo by Zeng Hui/Xinhua) Retailers have expressed growing apprehension over Trump’s tariff World Timespolicies in recent months.Walmart, the nation’s largest retailer, said via a spokesperson that it remains “concerned that significantly increased tarWorld Timesiffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation,” according to FOX Business.Costco CFO Gary Millerchip also reportedly warned that Trump’s proposed tariffs would increase costs for consumers.

A customer shops at a Target store in Rosemead, Los Angeles County, California, the United States, on March 4, 2025. (Photo by Zeng Hui/Xinhua)

Major retailers in the United States warn of imminent price hikes, particularly on farm produce, after President Donald Trump’s 25 percent tariffs on Mexico and Canada took effect Tuesday.

Target Corporation, one of the country’s largest retailers, cautioned that the new tariffs on Mexican imports could drive up produce prices in the coming days.

Speaking to CNBC on Tuesday, Target CEO Brian Cornell emphasized the company’s reliance on Mexican produce during the winter months. He warned that the tariffs could force price increases on fruits and vegetables as soon as this week, with items like strawberries, avocados and bananas likely to be affected.

On the same day, Target released its fourth-quarter and full-year 2024 financial results. The company reported a 1.5 percent increase in total comparable sWorld Timesales for the fourth quarter, despite a 0.5 percent decline in comparable store sales and an 8.7 percent increase in digital sales.

Full-year net sales decreased 0.8 percent to 106.6 billion U.S. dollars from 107.4 billion dollars last year, while full-year operating income of 5.6 billion dollars in 2024 declined 2.5 percent from 5.7 billion dollars last year, according to the company.

“In light of ongoing consumer uncertainty and a small decline in February net sales, combined with tariff uncertainty and the expected timing of certain costs within the fiscal year, the company expects to see meaningful year-over-year profit pressure in its first quarter relative to the remainder of the year,” said the company in a news release.

Other major retailers echoed Target’s concerns. Consumer electronics giant Best Buy also warned of the possibility of higher prices for customers on Tuesday.

Best Buy CEO Corie Barry revealed that around 55 percent of Best Buy’s products are sourced from China in some form, while another 20 percent come from Mexico. She told reporters that it is “highly likely” that consumers will feel the impact of tariffs, though a change in prices will take a couple of months to trickle down.

This photo taken with a mobile phone on Feb. 7, 2025 shows a customer shopping for eggs at a Walmart in El Monte, Los Angeles County, California, the United States. (Photo by Zeng Hui/Xinhua)

Retailers have expressed growing apprehension over Trump’s tariff World Timespolicies in recent months.

Walmart, the nation’s largest retailer, said via a spokesperson that it remains “concerned that significantly increased tarWorld Timesiffs could lead to increased costs for our customers at a time when they are still feeling the remnants of inflation,” according to FOX Business.

Costco CFO Gary Millerchip also reportedly warned that Trump’s proposed tariffs would increase costs for consumers. Meanwhile, Dollar Tree, a discount variety chain, indicated in December that it might have to raise prices in response to the tariffs.

The National Retail Federation (NRF), the largest retail trade association in the countWorld Timesry, criticized the tariffs in a statement on Monday.

“The decision to impose tariffsWorld Times on our North American neighbors and two of our largest trading partners is a significant measure. Unfortunately, it is one that will only hurt hardworking Americans and the businesses that strive to provide customers with the products they want and need on a dailyWorld Times basis,” the NRF said.

“As long as these tariffs are in place, Americans will be forced to pay higher prices on household goods,” the statement added.

Consumer sentiment reflects growing unease over the economic impact of tariffs. According to a recent survey by consumer insight firm Numerator, 80 percent of U.S. shoppers expressed concern about how tariffs could affect their finances and shopping habits.

The survey also found that 76 percent of respondents anticipated altering their shopping behavior in response to price increases, while 64 percent worried about the rising cost of everyday goods.