Trump tariffs will mean higher prices for U.S. consumers, major retailers say
CBSN
Businesses large and small are bracing for the impact of the Trump administration's new tariffs on U.S. imports from Mexico, Canada and China — and preparing to pass on the pain to consumers.
Best Buy CEO Corie Barry said this week that the electronics retailer is particularly exposed to the tariffs, noting that China and Mexico are the two largest suppliers of the company's products.
"[W]e 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," Barry said in a March 4 call with Wall Street analysts to discuss the company's latest financial results.
President Trump is giving a one-month exemption to U.S. automakers from the round of tariffs that took effect on March 4, White House press secretary Karoline Leavitt said on Wednesday.
Washington—Vice President JD Vance, Defense Secretary Pete Hegseth and Director of National Intelligence Tulsi Gabbard are at the southern border Wednesday to highlight the Trump administration's efforts to combat illegal crossings and drug trafficking, the day following President Trump's joint address to Congress in which immigration played a prominent role.
Washington — House Republicans are moving to punish Democratic Rep. Al Green of Texas after he heckled President Trump on Tuesday during his address to a joint session of Congress.
President Trump, in his 2025 address to the joint session of Congress, on March 4, 2025, sought to highlight the accomplishments of the opening weeks of his second administration. Over an hour and 40 minutes, the longest address of its kind, Mr. Trump spoke of his efforts to contain illegal immigration, the executive orders he has signed and his vision for how Congress should enact his sweeping legislative agenda. He also praised the work of Elon Musk and his Department of Government Efficiency task force, or DOGE, for the drastic cuts they have enacted across the executive branch.
Washington — House Republicans are pursuing a stopgap measure to keep the government funded through September, looking to shore up support for the continuing resolution with less than 10 days to prevent a government shutdown.
Democratic Rep. Sylvester Turner of Texas has died, multiple sources tell CBS News, weeks after taking office. He was 70 years old.
In the wake of a televised Oval Office squabble pitting President Trump and Vice President JD Vance against Ukrainian President Volodymyr Zelenskyy, the U.S. has paused intelligence sharing with its war torn ally, according to CIA Director John Ratcliffe.
An Idaho judge is warning attorneys to quit filing so many sealed documents in the murder case of a man accused in the stabbing deaths of four University of Idaho students.
Washington — The Trump administration signaled Tuesday it will move to let Idaho enforce its strict abortion ban, even in the treatment of pregnant women suffering medical emergencies, a dramatic reversal from the previous administration in a closely watched lawsuit.
U.S. officials told CBS News that Mohammad Sharifullah is being extradited to the U.S. in connection with the August 2021 Abbey Gate suicide bombing at the Hamid Karzai International Airport in Kabul, which killed 13 American service members and about 170 Afghans during the withdrawal of U.S. forces from Afghanistan.
A large majority of speech watchers approved of what they heard from President Trump's joint address to Congress Tuesday night.
Sen. Elissa Slotkin of Michigan delievered the Democratic response to President Trump's speech before the joint session of Congress.