Target CEO Brian Cornell on Wednesday warned of “massive potential costs” due to tariffs, saying the company would raise prices as a “very last resort.”

“The difficulty level has been incredibly high given the rates we’re facing and the uncertainty about how these rates in different categories might evolve,” Cornell said. “We’re focused on supporting American families and how they manage their budgets.”

The retail giant marked the last major company warning of possible tariff-driven price hike hikes, following similar warnings from Walmart and Best Buy.

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