Fast casual burrito chain Chipotle announced this week that it will absorb the cost of any of Donald Trump’s tariffs and not pass them along onto its customers, according to a statement by company CEO Scott Boatwright. Trump has threatened to impose tariffs on imports from several foreign countries, including US neighbors and allies Mexico and Canada. On Monday he reiterated that they would come into force on Tuesday. Economists have warned that such a move would see the cost of goods in the US balloon as companies pass the...

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Chipotle’s top executive says the Tex-Mex fast food chain has no plans to pass on the costs of tariffs to its customers. Scott Boatwright, the company CEO, told NBC News over the weekend that Chipotle’s menu prices will remain as they are despite the fact that the cost of goods is expected to rise if and when President Donald Trump’s tariffs go into effect. “It is our intent as we sit here today to absorb those costs,” Boatwright told NBC News. Though he acknowledged that the company faced “significant headwind,”...

Chipotle CEO Scott Boatwright said that the company will absorb President Donald Trump's planned tariffs on neighboring nations until they cause a substantial challenge. "It is our intent as we sit here today to absorb those costs," Boatwright said in an interview with "NBC Nightly News." However, if costs become a "significant headwind," that could change, Boatwright said. The chief executive said during an earnings call earlier this month that the company sources 2% of its ingredients from Mexico, which includes avocados, tomatoes, limes and peppers, and less than 0.5%...

Chipotle’s CEO says the company will cover the cost of Trump’s tariffs and not pass higher prices onto consumers. “It is our intent as we sit here today to absorb those costs,” CEO Scott Boatwright told NBC Nightly News, but added he couldn’t promise that would always be true. Trump’s tariffs on Mexico and Canada, if implemented, are set to go into effect Tuesday, although Commerce Secretary Howard Lutnick said the president is still tinkering with the exact levels for the taxes. “We are fortunate to have such an extraordinary...

President Donald Trump’s plan to impose tariffs on America’s largest trading partners is sending ripples through the U.S. economy, as businesses and consumers alike prepare to pay Yet for Chipotle customers, it appears, for now, that it will be smoother sailing at the check-out register. In an exclusive interview with NBC Sunday Nightly News, Chipotle CEO Scott Boatwright told anchor Hallie Jackson that, for now, the burrito purveyor intends to keep costs constant for consumers even as some of its cost of goods move higher. “It is our intent as...