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Best Buy and Target brace for price hikes as Trump's tariffs take effect

Trump administration enacts 25 percent tariffs on Mexico and Canada, increases anti-China tariffs to 20 percent
The big picture: President Trump's long-feared tariffs on Mexican, Canadian, and Chinese imports have finally arrived. As retaliatory tariffs from the affected countries launch a trade war that could severely slow the global economy, retail executives warn consumers to expect price hikes.