ExclusiveHome Depot CFO Says It Won't Raise Prices Amid Increasing Tariffs

Home Depot and its suppliers have been working on diversifying the source of imported suppliers in the past several years, and don't plan to raise prices amid President Donald Trump's tariffs, its CFO Richard McPhail told CNBC on Tuesday. Currently, US domestic products account for over 50% of the company's supplies, and it plans to further reduce imports from China, and won't rely on a single other country too much. By this time next year, no single country outside of the US will represent more than 10% of the company's purchases, McPhail added. Home Depot's stance is different from Walmart, which said recently that it would raise prices starting from late May and June. Trump criticised the giant retailer and said Walmart and China should eat the tariffs.