The home improvement retailer said it would be implementing "modest" price increases for imported goods due to "higher" tariffs.

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, the world's largest home improvement retailer, is set to implement modest price increases in response to the Trump administration's tariffs. These tariffs have significantly raised import costs,