Costco says prices will go up due to tariffs

Posted at 1:20 PM, Jun 03, 2019
and last updated 2019-06-03 15:23:26-04

(CNN) – If you are a Costco member and plan to do some shopping soon, you may notice higher prices. The warehouse stores said it’s because of the trade war between the U.S. and China.

President Trump slapped U.S. tariffs on 250 billions dollars worth of Chinese exports and warned those tariffs are likely to state for some time. China retaliated by also imposing new tariffs. The tariffs are affecting Costco goods like furniture, bikes, and luggage.

The retailer says it’s working to reduce costs by sourcing goods from other countries.