Target has warned that Donald Trump’s tariffs could cut into profits as it grapples with consumer fears over the state of the US economy and anger over its recent pullback from diversity goals. The big-box US retail chain said it expected “meaningful year-over-year profit pressure” in the first quarter that began on February 2,

New tariffs are expected to cause food prices to rise in the coming days, especially on produce from Mexico, Target CEO Brian Cornell warned Tuesday. Why it matters: President Trump's long-promised tariffs on goods from Mexico and Canada went into effect Tuesday along with an additional 10% levy on Chinese imports.