Shares of automotive manufacturer General Motors (NYSE:GM) fell 8.5% in the afternoon session after President-elect Donald Trump announced his tariff plans, which some analysts believe "places a bulls-eye on the auto industry."
"I absolutely can see a world where there's more consumer impact because the cost of those tariffs ends up flowing through to the consumer," Best Buy CEO Corie Barry told reporters on a media call.
She noted that vendors have "very, very small margins in this industry, which means the vast majority of that tariff will probably be passed on to the consumer as a price increase."
Roughly 60% of Best Buy's products come from China, and Mexico is its second-largest supplier, as many companies have moved production of larger items to the country in the last five years. Items produced there include appliances, desktop computers, and large TVs. The business doesn't import anything from Canada.
What Happened?
Shares of automotive manufacturer General Motors (NYSE:GM) fell 8.5% in the afternoon session after President-elect Donald Trump announced his tariff plans, which some analysts believe "places a bulls-eye on the auto industry."
"I absolutely can see a world where there's more consumer impact because the cost of those tariffs ends up flowing through to the consumer," Best Buy CEO Corie Barry told reporters on a media call.
She noted that vendors have "very, very small margins in this industry, which means the vast majority of that tariff will probably be passed on to the consumer as a price increase."
Roughly 60% of Best Buy's products come from China, and Mexico is its second-largest supplier, as many companies have moved production of larger items to the country in the last five years. Items produced there include appliances, desktop computers, and large TVs. The business doesn't import anything from Canada.
of business many years ago.
Its stock is just a waste paper. Their CEO told the Union leaders many years ago, GM is working for them, not shareholders or bondholders.
GM 是拜登极力扶植，而扶不起来的阿斗。让一龙像买推特一样，买了算了，还有出头一日。