’s sweeping tariffs are starting to hit
American consumers where it hurts: their wallets. From groceries and clothes to cars and electronics, many everyday items are expected to get more expensive as companies pass on rising import costs.
Under Trump’s tariff policies, most imports now face a 10% baseline tariff, while goods from China are subject to a 30% levy. Some materials like steel and aluminum face even higher rates. Retailers have made it clear: they won’t simply “absorb” these costs, despite Trump’s claims — meaning higher prices are on the horizon.Here’s a breakdown of the companies warning of price hikes due to tariffs:
Walmart announced on April 15 that it would raise prices, citing the high cost of tariffs — particularly on Chinese-made products.
“We’ll do our best to keep prices low, but the magnitude of these tariffs makes it impossible to absorb all the pressure,” said CEO Doug McMillon.Chief Financial Officer John David Rainey added that customers will see increases starting in late May, with even steeper hikes coming in June.Toymaker Mattel said on May 6 it would increase prices in response to tariffs. CEO Ynon Kreiz noted that while 40–50% of its products will still cost $20 or less, many others will go up. He also pushed for eliminating tariffs on toys globally.
Trump later threatened Mattel directly, saying:
“I’ll put a 100% tariff on his toys. He won’t sell one in the U.S. — and that’s their biggest market.”
During a March earnings call, Best Buy warned that vendors across its entire product range would likely raise prices due to tariffs, which would be passed along to consumers. Some electronics are temporarily exempt, but that’s expected to change.
Nintendo delayed pre-orders for its Switch 2 console over tariff concerns. While the console price remains at $450, accessory prices were adjusted upward.
Sony’s CFO also said it “may pass on the price” to consumers.
Chinese e-commerce giants Shein and Temu were previously exempt from tariffs on orders under $800, thanks to the “de minimis” rule. Trump’s recent executive order removed that loophole.
Both brands raised prices:
Temu patio chairs jumped from $61.72 to $70.17 overnight.
Shein increased a swimsuit set from $4.39 to $8.39 — a 91% spike.
Temu stated: “Due to recent changes in global trade rules and tariffs, our operating expenses have gone up.”
Automakers are also under pressure.
Ford plans to raise U.S. car prices by up to 1.5% in late 2025 due to the 25% tariff on imported cars and parts.
Subaru has also confirmed upcoming price hikes, though it declined to provide specifics.
“These changes are to offset increased costs while maintaining value,” said Subaru of America.
The consumer goods giant — maker of Pampers, Tide, and Charmin — said on April 24 that it may raise prices in select categories.
CEO Jon Moeller told CNBC: “Tariffs are inherently inflationary. There will likely be price increases for consumers.”
The power tool maker has already raised prices by high single-digit percentages and announced more hikes later this year due to tariffs.
Adidas warned that U.S. prices may rise due to trade uncertainty.
“Cost increases from tariffs will eventually cause price increases,” said CEO Bjørn Gulden.
