Home Depot wont raise prices from tariffs [Video]

Home Depot said it doesn’t plan to raise prices because of President Donald Trump’s tariffs, breaking with Walmart and other retailers that will pass costs related to the trade war on to consumers.“Because of our scale, the great partnerships we have with our suppliers and productivity that we continue to drive in our business, we intend to generally maintain our current pricing levels across our portfolio,” finance chief Richard McPhail told CNBC in an interview.McPhail said the home improvement retailer has diversified where it sources its merchandise and reduced its reliance on China. More than half of Home Depot’s products come from the United States.But the trade war has begun to hurt Home Depot. Consumer sentiment has plunged near record lows as Americans fear tariffs will reignite inflation and weaken the economy. That, in part, kept some customers away from the home improvement behemoth.Home Depot reported sluggish earnings Tuesday, weighed …