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Tariffs will cost Gap up to $150 million | CNN Business

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Tariffs are slamming Gap.
On May 29, 2025, Gap Inc. announced that it would be raising prices on some of its clothing items due to increased tariffs on imports from China, as reported by CNN Business. The decision comes in response to the new tariffs imposed by the U.S. government, which have significantly raised the cost of importing goods. Gap's stock experienced a slight decline following the announcement, reflecting investor concerns about the potential impact on the company's profitability. The company stated that it is exploring alternative sourcing options to mitigate the effects of the tariffs, but some price increases are inevitable. This move by Gap highlights the broader challenges faced by retailers amid escalating trade tensions between the U.S. and China.

Read the Full CNN Article at:
[ https://www.cnn.com/2025/05/29/business/gap-tariffs-stock ]