Gap Faces $150 Million Tariff Hit, Absorbs Costs | JQJO

Gap Inc. projects a $100-$150 million loss this year due to President Trump's tariffs on Chinese and other imported goods. Despite a recent 2% sales increase, the company plans to absorb the costs rather than raising prices significantly, unlike other retailers like Macy's, Walmart, and Target. A federal appeals court temporarily halted a ruling that would have blocked many of the tariffs, creating further uncertainty for businesses.