Target says China tariffs won’t affect prices

Business

Target tells suppliers it won't accept any new cost increases

(FOX NEWS) – Some companies are scrambling to deal with newly imposed tariffs on Chinese goods.

But, Target is demanding its suppliers absorb increased costs so consumers won’t be affected.

The Wall Street Journal says in a letter to suppliers, Target said it will not accept any new cost increases related to tariffs on goods imported from China.

The memo also said Target expects suppliers to develop the appropriate contingency plans so it doesn’t have to pass price on to consumers.

Target has also warned the US government that consumers, who would see price increases, would be the victim of tariffs.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Video Forecast

More Forecast

Don't Miss