Best Buy CEO Says Customers Would Largely Pay for Trump Tariffs -- Market Talk

Dow Jones11-26 23:17

Best Buy customers would bear most of the added costs from tariffs that President-elect Donald Trump has promised to impose on imports from China and Mexico, CEO Corie Barry says on a call. Trump recently said he would levy a 25% tariff on Canadian and Mexican goods. While Best Buy doesn't import from Canada, Mexico is its second-biggest importing country. Vendors and Best Buy would bear some costs from new tariffs, but margins in the consumer electronics industry are already very small, so "the vast majority of that tariff will probably be passed onto the consumer as a price increase," Barry says. (dean.seal@wsj.com)

(END) Dow Jones Newswires

November 26, 2024 10:17 ET (15:17 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2486002166?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-26 23:17","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2486002166","market":"other","top_or_hot":-1,"title":"Best Buy CEO Says Customers Would Largely Pay for Trump Tariffs -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  Best Buy customers would bear most of the added costs from tariffs that President-elect Donald Trump has promised to impose on imports from China and Mexico, CEO Corie Barry says on a call. Trump recently said he would levy a 25% tariff on Canadian and Mexican goods. While Best Buy doesn't import from Canada, Mexico is its second-biggest importing country. Vendors and Best Buy would bear some costs from new tariffs, but margins in the consumer electronics industry are already very small, so \"the vast majority of that tariff will probably be passed onto the consumer as a price increase,\" Barry says. (dean.seal@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 26, 2024 10:17 ET (15:17 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Best Buy CEO Says Customers Would Largely Pay for Trump Tariffs -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBest Buy CEO Says Customers Would Largely Pay for Trump Tariffs -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-26 23:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Best Buy customers would bear most of the added costs from tariffs that President-elect Donald Trump has promised to impose on imports from China and Mexico, CEO Corie Barry says on a call. Trump ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2486002166","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486002166","pubTimestamp":1732634220,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Best Buy customers would bear most of the added costs from tariffs that President-elect Donald Trump has promised to impose on imports from China and Mexico, CEO Corie Barry says on a call. Trump recently said he would levy a 25% tariff on Canadian and Mexican goods. While Best Buy doesn't import from Canada, Mexico is its second-biggest importing country. Vendors and Best Buy would bear some costs from new tariffs, but margins in the consumer electronics industry are already very small, so \"the vast majority of that tariff will probably be passed onto the consumer as a price increase,\" Barry says. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BBY":"百思买","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","BK4588":"碎股","BK4076":"电脑与电子产品零售","BK4211":"区域性银行","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","CUBI":"Customers Bancorp Inc.","BK4567":"ESG概念"},"translate_title":"百思买首席执行官表示，客户将主要为特朗普关税买单——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BBY":1,"CUBI":1},"content_text":"Best Buy customers would bear most of the added costs from tariffs that President-elect Donald Trump has promised to impose on imports from China and Mexico, CEO Corie Barry says on a call. Trump recently said he would levy a 25% tariff on Canadian and Mexican goods. While Best Buy doesn't import from Canada, Mexico is its second-biggest importing country. Vendors and Best Buy would bear some costs from new tariffs, but margins in the consumer electronics industry are already very small, so \"the vast majority of that tariff will probably be passed onto the consumer as a price increase,\" Barry says. (dean.seal@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 26, 2024 10:17 ET (15:17 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486002166"}