President Donald Trump’s sweeping new tariffs on imports are beginning to ripple through the U.S. economy, with several major companies warning that they will soon raise prices on consumer goods ranging from toys and electronics to groceries and vehicles.
Under Trump’s revised trade policy, a 10% baseline tariff now applies to most imports, with a 30% tariff on goods from China. Additional levies on products like steel and aluminum further compound costs for manufacturers and retailers. Despite Trump’s insistence that companies should “eat” the added expenses, industry leaders say the burden is too high and will ultimately be passed on to consumers.
Walmart
Walmart, the largest retailer in the U.S., announced on April 15 that it will raise prices due to the tariffs, especially for goods sourced from China. “We will do our best to keep our prices as low as possible,” said CEO Doug McMillon, “but given the magnitude of the tariffs… we aren’t able to absorb all the pressure.” The company expects noticeable price hikes by June, according to CFO John David Rainey.
Mattel
Toymaker Mattel said on May 6 that it will increase prices, noting that 40–50% of its products will still be priced under $20. However, CEO Ynon Kreiz expressed concern over the tariff environment and urged global elimination of duties on toys. In response, Trump threatened to impose a 100% tariff on Mattel’s products, claiming it would cripple their U.S. sales.
Best Buy
Electronics retailer Best Buy warned that tariff costs would be pushed to retailers and ultimately to consumers. “Price increases for American consumers [are] highly likely,” the company said. Other electronics companies, including Nintendo, Sony, and PlayStation, have also hinted at price adjustments for hardware and accessories.
Shein and Temu
Chinese e-commerce giants Shein and Temu were previously exempt from many tariffs under a “de minimis” rule for shipments under $800. That exemption was revoked by a Trump executive order. Both companies announced price increases in late April, with examples showing up to 91% spikes on some items overnight.
Ford and Subaru
U.S. automaker Ford said it expects to raise prices by as much as 1.5% in the second half of 2025, blaming the 25% tariff on imported vehicles and auto parts. The company also extended employee pricing offers to entice buyers before tariffs fully impact showrooms.
Subaru confirmed it will raise U.S. prices to “offset increased costs,” citing market conditions rather than country-of-origin tariffs specifically. Analysts say consumers should expect higher sticker prices across multiple auto brands this year.
Procter & Gamble, Stanley Black & Decker
Household goods giant Procter & Gamble, maker of Pampers, Tide, and Charmin, said on April 24 that “there will likely” be price increases tied to tariffs. CEO Jon Moeller stated plainly: “Tariffs are inherently inflationary.”
Stanley Black & Decker has already raised prices on its power tools by high single-digit percentages and plans another round of increases later in 2025.
Adidas
Footwear and apparel brand Adidas said costs are expected to rise in the U.S. due to tariff uncertainty. CEO Bjørn Gulden warned that price hikes are “eventually” inevitable as tariffs take effect and negotiations stall.
With the effects of Trump’s tariffs beginning to cascade through supply chains, American consumers are likely to see noticeable price increases on everyday goods in the coming months. Companies are bracing for additional costs as exemptions expire and retaliatory trade actions potentially emerge. While electronic transactions and services may remain stable in the short term, retail, automotive, and consumer goods are now firmly in the inflation spotlight.
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