US-based Mexican food chain expects Trump tariffs to bite hard
03 June 2019 - 18:47
Bengaluru — Chipotle Mexican Grill estimates a $15m hit from President Donald Trump’s proposed tariffs on Mexican imports, and says it could cover that by raising burrito prices by around five cents.
The US-based Mexican-themed chain’s finance chief Jack Hartung said its margins would be reduced by 20-30 basis points if the tariffs suggested by Trump go up to 25%, pushing up prices of avocados, the key ingredient in guacamole...
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