These Companies Are Preparing to Raise Prices Due to Trump’s Tariffs

Automakers Brace for Higher Costs

Major U.S. automakers like Ford and General Motors have already sounded the alarm about rising costs linked to new tariffs on imported car parts and steel. According to Reuters, Ford’s CFO John Lawler stated in early 2025 that tariffs could add up to $1 billion in additional expenses for the company. These costs are not just for raw materials but also for critical electronic components sourced from China and other countries facing higher tariffs. Ford and GM have both indicated in recent earnings calls that price hikes on new vehicles are “on the table” if tariff threats become reality. The Alliance for Automotive Innovation, an industry group, reports that as many as 40% of all car parts in U.S.-built vehicles come from tariff-affected countries. Customers could see sticker prices rise by hundreds or even thousands of dollars, depending on the model and trim. The industry is warning that this could slow down already sluggish car sales, especially for electric vehicles that rely heavily on imported batteries.

Electronics Retailers Warn of Price Increases

Best Buy, one of the largest electronics retailers in the U.S., has publicly warned investors and customers that Trump’s proposed tariffs on electronics and components from China are likely to hit their bottom line. In their Q1 2025 earnings report, Best Buy noted that laptops, smartphones, and televisions are particularly exposed. The Consumer Technology Association estimates that tariffs could add $50 to $100 to the price of an average laptop or smartphone. Best Buy’s CEO Corie Barry said, “We are doing everything we can to negotiate with suppliers, but there’s only so much we can absorb.” Retailers face a tough choice: pass the costs to consumers or accept shrinking profit margins. Analysts at JP Morgan predict that tech gadgets may see the most noticeable price jumps by late 2025.

Apparel Brands Signal Upcoming Markups

U.S. apparel giants like Nike and Gap have issued warnings about tariffs on imported clothing and textiles, especially those produced in China and Southeast Asia. The American Apparel & Footwear Association has estimated that tariffs could raise the cost of imported clothing by as much as 10%. Nike’s 2025 investor update highlighted supply chain disruptions and announced plans to “review pricing strategies” for upcoming collections. Gap executives echoed this sentiment, noting that back-to-school and holiday season collections may cost more for shoppers. The National Retail Federation stated that over 40% of all clothing sold in the U.S. is made in countries now facing tariffs. These increases are expected to hit budget-conscious families the hardest, according to a recent Bloomberg survey.

Home Appliance Makers Prepare for Cost Surges

Whirlpool and GE Appliances have both stated in recent SEC filings that tariffs on imported steel, aluminum, and electronic parts will force them to reconsider pricing across refrigerators, ovens, and washing machines. Whirlpool’s CEO Marc Bitzer confirmed in a 2025 interview that raw material costs have already jumped 12% since the tariff announcements. Home appliance makers are particularly vulnerable because many components, such as compressors and circuit boards, are sourced from China and Mexico. A report from the Association of Home Appliance Manufacturers predicts that average retail prices could rise by $75 to $150 per appliance. This could slow down housing market activity, as new appliances are often bundled into home purchases. Shoppers may see fewer discounts and longer wait times for certain models.

Furniture Retailers Anticipate Higher Price Tags

Wayfair, Ashley Furniture, and other leading furniture sellers are warning customers about higher prices due to tariffs on wood, metal, and upholstery materials. The American Home Furnishings Alliance reported that nearly 60% of all U.S. furniture imports in 2024 came from tariff-affected countries, mainly China and Vietnam. Wayfair’s Q1 2025 report stated that the company is “actively reviewing pricing and shipping fees” to offset higher import costs. Industry analysts forecast that sofas, dining sets, and mattresses could see price hikes of up to 15%. Retailers face added pressure from rising shipping and logistics costs, which are also affected by trade policy. Customers should expect fewer sales and promotions, especially on imported items.

Grocery Chains Face Tariff-Driven Food Inflation

Walmart, Kroger, and other grocery chains are bracing for higher prices on imported foods, especially packaged snacks, seafood, and produce. The U.S. Department of Agriculture reported in May 2025 that tariffs on Mexican and Canadian produce could add up to 8% to grocery bills by the end of the year. Walmart’s CFO John David Rainey confirmed during the company’s earnings call that “price adjustments are being considered for affected categories.” Seafood, nuts, and fruit juices are among the most vulnerable items, according to the Food Marketing Institute. Grocery stores are trying to negotiate with suppliers, but experts say shoppers will inevitably see higher prices at the checkout. Food banks and low-income families are expected to feel the squeeze the most.

Consumer Electronics Brands Plan for Markups

Apple, Samsung, and other global tech brands have quietly told investors that tariffs on key components could force them to raise prices on popular devices. Apple’s Q2 2025 investor letter mentioned “persistent supply chain headwinds and tariff-related cost pressures” on iPhones and iPads. The Semiconductor Industry Association estimates that tariffs could increase the cost of chips and processors by 7% to 10%, which will likely be passed on to consumers. Samsung’s U.S. division is reportedly considering price hikes for new smartphones and tablets launching later in 2025. The Consumer Technology Association warns that such increases could dampen demand for the latest gadgets, especially among younger buyers. Tech industry analysts believe innovation could slow if companies are forced to cut costs elsewhere.

Building Supply Companies Expect Higher Prices

Home Depot and Lowe’s have both indicated in their 2025 forecasts that tariffs on imported lumber, steel, and hardware will impact prices for home improvement projects. The National Association of Home Builders reported that tariffs could raise construction costs by up to 9% this year. Home Depot’s CEO Ted Decker told CNBC that “higher sourcing costs are already being felt in our supply chain.” Lumber, nails, and lighting fixtures are among the most affected categories, with price hikes projected throughout the summer. This could push up the price of home renovations and new builds, making it tougher for first-time buyers. DIY enthusiasts may need to budget more for their projects going forward.

Toy Companies Warn of More Expensive Holidays

Hasbro and Mattel, two of the biggest toy makers in the world, have issued statements warning that tariffs on Chinese-made toys could lead to higher prices by the 2025 holiday season. The Toy Association reported that 85% of toys sold in the U.S. are imported from China, making the sector especially exposed. Hasbro’s 2025 earnings call revealed plans to “adjust retail prices to reflect increased costs.” Mattel echoed this, saying price increases are “likely unavoidable” if tariffs remain in place. Retailers like Target and Walmart are bracing for reduced margins and possible declines in toy sales. Parents may be shocked to find higher price tags on everything from action figures to board games.

Pharmaceutical and Medical Supply Firms Signal Cost Pass-Throughs

Major pharmaceutical companies including Pfizer and Johnson & Johnson have advised that tariffs on imported medical ingredients and devices could push up drug and equipment costs. The Healthcare Distribution Alliance stated in a recent report that 30% of all active pharmaceutical ingredients used in the U.S. are imported from countries now subject to tariffs. Pfizer’s Q1 2025 update warned of “potential retail price adjustments” for prescription drugs and over-the-counter medications. Hospitals and clinics, already struggling with higher operational costs, are preparing for increased expenses on everything from syringes to surgical gloves. Patients may end up paying more for essential medications and treatments, particularly those without robust insurance coverage.

Farm Equipment Manufacturers Prepare to Pass on Tariff Costs

John Deere and Caterpillar, giants in the farm equipment industry, have both stated that tariffs on imported steel, machinery parts, and electronics will raise the cost of tractors and harvesters. The Association of Equipment Manufacturers estimates that tariffs could add $2,000 to $4,000 to the cost of a typical mid-range tractor. John Deere’s CEO John C. May said in April 2025 that “tariff-related cost increases will be shared with customers as needed.” These price increases come as American farmers are already dealing with lower commodity prices and higher fuel costs. Equipment dealers across the Midwest have begun informing customers to expect higher price quotes in the coming months. This could further strain rural economies dependent on agriculture.

Cosmetics and Personal Care Companies Anticipate Increases

Procter & Gamble, Estée Lauder, and other major cosmetics companies have flagged tariffs on packaging materials and chemical ingredients as a source of rising costs in 2025. The Personal Care Products Council estimates that tariffs could increase the average price of personal care goods by 5% to 8%. Procter & Gamble’s CFO Andre Schulten noted during the company’s latest earnings call that “we are reviewing all price points and promotional strategies moving forward.” Makeup, shampoo, and skincare products made with imported components are especially at risk. Retailers like Ulta and Sephora are preparing for tighter margins and fewer discounts. Customers may see price hikes just in time for summer and holiday shopping seasons.