Target CEO Brian Cornell on Wednesday warned of "massive potential costs" due to tariffs, saying the company would raise prices as a "very last resort." "The difficulty level has been incredibly high given the rates we're facing and the uncertainty about how these rates in different categories might evolve,

Target has not ruled out price increases in response to the tariff war sparked by President Donald Trump, but said they will be a "last resort" as it seek alternative ways to limit its exposure to new import taxes.