Best Buy Warns of Higher Prices as New Round of Tariffs Takes Effect

Best Buy BBY 0.44%increase; green up pointing triangle said U.S. consumers are likely to face higher prices as vendors throughout its supply chain react to the latest set of tariffs, a scenario that may crimp demand for electronics.

“While Best Buy only directly imports 2% to 3% of our overall assortment, we expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely,” said Chief Executive Corie Barry.