Best Buy beat Wall Street's fourth-quarter earnings and revenue estimates as the company's computing and phone sales increased.

As 25% tariffs on imports from Mexico and Canada are set to take effect on Tuesday, Hispanic-owned businesses and companies that depend on cross-border trade are already passing higher prices onto consumers and preparing to sharply reduce imports.

President Trump confirmed Monday that his long-promised tariffs on goods from Mexico and Canada will go into effect on Tuesday. Why it matters: The announcement sent financial markets tumbling in anticipation of a potential trade war between the U.