COBB COUNTY, Ga. — From where it gets materials to who it can sell to and in what countries, Atlanta-based Home Depot said in its latest financial documents that tariffs present challenges to profitability.
The details come from the company’s most recent filing with the U.S. Securities and Exchange Commission.
In its 10-K filing, which is shared publicly and focused on the company’s economic forecasts and conditions, Home Depot said the current global trade environment is one of the factors that could have an effect on sales due to price changes impacting customers.
As a result, the retail products directly and indirectly from Mexico, Canada and China “could significantly, adversely impact the cost of, demand for and profitability of retail product sales in our U.S. or other locations.”
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The company also said in the filing that an inability to sell certain items due to customs actions in other countries, as well as regulatory enforcement inquiries, could limit access to ports and create new difficulties for enforcing intellectual property rights.
Home Depot said this could impact its ability to identify and access local suppliers, rather than international ones.
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The focus on Mexico, Canada and China comes amid ongoing trade disputes between the United States and its trading partners, with President Donald Trump’s introduction of significant increases to tariffs on products coming into the U.S. from the three countries, among others.
More directly, Home Depot’s SEC filing said “that “trade tensions between the U.S. and China have led to a series of significant tariffs on the importation of certain product categories and tariffs have been recently proposed, and in some cases enacted, on imports from Mexico, Canada, China, and other countries.”
According to reporting by the Associated Press, the president’s tariff plans are intended to “take back wealth ‘stolen’ by other countries.” He announced plans to tax imports from the European Union, Brazil and South Korea on March 12, which prompted an immediate response from the EU.
The president’s planned reciprocal tariffs on the EU, Brazil and South Korea are supposed to begin April 2.
European Commission President Ursula von der Leyen said that as the United States was “applying tariffs worth $28 billion, we are responding with countermeasures” worth roughly an equal amount. Those measures, which cover not just steel and aluminum products but also textiles, home appliances and agricultural goods, are due to take effect April 1.
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