Costco, Chipotle say tariffs on China and Mexico causing pain

With tariffs on $60 billion of Chinese goods now in effect, Costco is saying customers can expect prices on certain goods to rise.

The bulk retail giant said the tariffs on agricultural, mining and manufactured products affect pricing on furniture, bikes and luggage.

The company said it is trying to offset the effect of the tariffs by purchasing items from other countries.

It’s not the only major company saying prices could be affected by the Trump administration’s economic policies.

Chipotle said President Donald Trump’s decision to impose a 5% tariff on products from Mexico will increase costs.

According to CNN, it's not yet clear if the cost increase will lead to higher menu prices on some items.

Cox Media Group