"Target follows Costco and Walmart's lead on tariffs,"

With tariffs on Chinese goods set to increase on April 2, major U.S. retailers are rushing to offset the costs. This has added more pressure on Chinese exporters, who are already facing the impact of years of tariffs and slim profit margins.

In one case, a Chinese supplier of hairpins and claw clips said Target (TGT) requested they “pick up half the costs of the tariffs.” After attempting to negotiate, the supplier saw delays in their order and ultimately lost the business. Target has not responded to Quartz’s multiple requests for comment.

Currently, there is a 20% tariff on all Chinese imports, impacting around $430 billion worth of goods. Target does not operate any physical stores in mainland China, but says it has worked to reduce its reliance on Chinese imports, cutting the share of its goods from China from 60% to 30%...

Despite these efforts to reduce reliance on China, Target’s CEO Brian Cornell has said that price increases are still expected, particularly for fresh produce such as bananas, avocados, and strawberries. He added that Target has been actively “scenario planning” to minimize the impact of tariffs and avoid excessive price hikes for consumers...