Boxes of avocados are seen at the Central de Abastos market in Guadalajara, Jalisco state, Mexico, on Jan. 31, 2025.
Ulises Ruiz | Afp | Getty Images
Chipotle Mexican Grill said Tuesday that it does not expect costs to rise much if tariffs on key imported ingredients go into effect next month, noting that only about half of its avocados come from Mexico.
A day earlier, President Donald Trump paused his plans for 25% tariffs on Mexican and Canadian imports. If implemented after the one-month suspension, imports such as avocados and beef would be more expensive for restaurants, which would likely try to pass on the increased cost to their diners.
But Chipotle executives shook off the tariff fears during the company’s earnings conference call on Tuesday. If tariffs aimed at Mexico, Canada and China all go into effect, Chipotle expects that its cost of sales would rise about 60 basis points, or 0.6 percentage points, according to Chief…
