These companies plan to hike prices due to Trump’s tariffs

These companies plan to hike prices due to Trump’s tariffs

Henrieke Otte, M.Sc.

Tariffs Shake Up Prices Across America

Tariffs Shake Up Prices Across America (image credits: unsplash)
Tariffs Shake Up Prices Across America (image credits: unsplash)

President Trump’s far-reaching tariffs have jolted American consumers and businesses alike, sending shockwaves through markets and prompting a wave of price changes. With a 10% baseline tariff on most imports and a 30% rate on most Chinese goods—plus even steeper taxes on items like steel and aluminum—retailers are openly warning that they can’t simply absorb the rising costs. The result? Americans may soon see higher prices on everything from groceries and clothing to cars and electronics.

Major Retailers Brace Shoppers for Higher Costs

Major Retailers Brace Shoppers for Higher Costs (image credits: rawpixel)
Major Retailers Brace Shoppers for Higher Costs (image credits: rawpixel)

Retail giants aren’t staying quiet about the impact. Walmart, for instance, recently announced plans to raise prices, citing tariffs that are “too high” to absorb within already-tight margins. Their leadership expects shoppers to feel the pinch as early as June. Other big names like Ford and Best Buy are preparing for price hikes as well, signaling a broad impact across different types of goods.

Toymakers and Electronics Hit Hard

Toymakers and Electronics Hit Hard (image credits: pixabay)
Toymakers and Electronics Hit Hard (image credits: pixabay)

The toy and electronics sectors are feeling the pressure, too. Mattel’s CEO explained that while nearly half of their toys might stay under $20, tariffs are forcing them to reconsider pricing across their product line. Electronics retailers like Best Buy warn that as manufacturers pass on costs, consumers will see higher prices. Even gaming companies like Nintendo and Sony suggest accessory and hardware prices could rise as market conditions shift.

Discount Retailers and Online Giants Respond

Discount Retailers and Online Giants Respond (image credits: unsplash)
Discount Retailers and Online Giants Respond (image credits: unsplash)

Online fashion and discount platforms Shein and Temu, once mostly exempt from tariffs, are now facing higher import taxes after a recent executive order eliminated the “de minimis” loophole. Both have already raised prices, with some items jumping more than 90% overnight. These price hikes reflect a new reality for online bargain hunters.

Automakers and Car Buyers Feel the Heat

Automakers and Car Buyers Feel the Heat (image credits: unsplash)
Automakers and Car Buyers Feel the Heat (image credits: unsplash)

The automotive industry hasn’t escaped tariff troubles either. Imported vehicles now face a 25% tariff, prompting Ford to announce it will boost US car prices by up to 1.5% in the second half of 2025. Subaru is also increasing its prices, although the exact jump isn’t clear. Ford expects to take a $1.5 billion tariff hit this year, further driving up the cost of new vehicles for Americans.

Household Brands and Sporting Goods Join the List

Household Brands and Sporting Goods Join the List (image credits: unsplash)
Household Brands and Sporting Goods Join the List (image credits: unsplash)

Everyday essentials are getting costlier, too. Procter & Gamble, maker of familiar household brands, said consumers can expect to see some price increases because “tariffs are inherently inflationary.” Power tool maker Stanley Black & Decker already raised prices and plans another round soon. Even Adidas says Americans should brace for higher price tags due to the uncertainty and rising costs associated with ongoing tariff negotiations.

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