Until now, America’s largest home improvement retailer has limited what it has said about the impact of tariffs on its prices. But after reporting quarterly results Tuesday, CFO Richard McPhail said Home Depot would have to implement some price increases as a result of the Trump administration’s taxes on imports.

Home Depot has become the latest U.S. company to warn customers it may have to raise its prices on the shelves in response to President Donald Trump ’s divisive tariff strategy.

In Q1, Home Depot experienced solid demand for smaller projects and seasonal activities; however, high interest rates deterred many consumers

Home Depot reported weaker-than-expected quarterly earnings and sales, signaling there still hasn’t been a full-on rebound for home improvement. Yet the stock was moving higher on Tuesday as investors shrugged off the second quarter and looked toward the shares’ next catalyst: interest-rate cuts.

Home Depot (HD) stock has earned Buy ratings from multiple Wall Street analysts following the release of its Q2 earnings report. Despite posting quarterly earnings and revenue that came in just below Wall Street’s estimates,