Home Depot, Whose Co-Founder Is A Trump Supporter, Warns Of Hit From Trump Tariffs On Its Sales Forecast

Home Depot is sounding alarm bells over the Trump tariffs.

USA Today reports:

“Home Depot cut its sales expectations for the year as lumber prices slid and the company braces for the potential impact of tariffs on its customers.

The Trump administration delayed most of the tariffs it planned to impose on Chinese goods last week and dropped others altogether, responding to pressure from businesses and growing fears that a trade war is threatening the U.S. economy.

Lumber prices are falling because of weakness on the home construction market. The Commerce Department said Friday that the pace of U.S. home construction fell a sharp 4% in July. So far this year, housing starts have declined 3.1% . . .

[CEO Craig Menear said in a prepared statement that] ‘lumber prices have declined significantly compared to last year, which impacts our sales growth. As a result, today we are updating our sales guidance to account primarily for continued lumber price deflation, as well as potential impacts to the U.S. consumer arising from recently announced tariffs.'”

For the rest of the story, visit USA Today here.

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