Tariff Policy Drives Up Import Costs, Leading United States’ Largest Home Improvement Retailer to Announce Price Increases

On August 21, according to CCTV News, American media recently reported that Home Depot, the largest home improvement retailer in the United States, stated that due to U.S. tariff policies leading to soaring import costs, the company will be forced to raise the prices of some of its products. Home Depot mentioned that although the company is currently seeking to diversify its supply sources, nearly half of its product inventory currently comes from suppliers outside the United States. The significant increase in tariffs by the U.S. government has led to increased operating costs, resulting in a decrease in Home Depot's net profit for the second quarter. Additionally, Home Depot stated that the current economic uncertainty and high interest rates have led consumers to reduce home renovation plans, and the company expects its earnings per share for the entire year to continue to decline.