Target has set the stage for contentious talks with the US retailer’s suppliers of Chinese goods, telling them it would refuse to “accept any cost increases related to tariffs” imposed by Donald Trump in his trade war with Beijing. Hundreds of suppliers to the S&P 500 company received the warning in a memo sent last week, shortly before 15 per cent tariffs on $112bn of goods from China went into effect at the weekend. “Our expectation is that you will develop the appropriate contingency plans so that we don’t have to pass price increases along” to customers, wrote Mark Tritton, Target’s chief merchandising officer.
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