Shoppers will find fewer goods from Canada on Costco store shelves now that President Trump has imposed tariffs, the chain's chief executive said, and the products that are there will cost more. The warehouse retailer also will look for more products to import from nations that have not been hit with US tariffs, the Financial Post reports. "There's not many items that we can't find something to replace or something else to bring in that category," Ron Vachris said during an earnings call on Thursday.
Trump has imposed the tariffs, announced exceptions, set new deadlines—but many goods still face them at the moment. "The tariffs are very fluid right now, so it's hard to give any predictions on what we can do, but our people are very well-equipped to lower prices and defer any cost increases that come our way," Vachris said. "We're going to do what we can." Prices will be raised on tariff-imposed goods from Mexico and China, as well. Costco said fewer than 20% of its US inventory comes from the three nations.
Costco shares fell Friday after second-quarter results reflected cautious consumer spending, per Yahoo Finance. The company's chief financial officer said shoppers are being "very choiceful" in their decisions. That trend is likely to pick up speed, Gary Millerchip said, given "the impact of some return of inflation and the potential impact of tariffs." (More Costco stories.)
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