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| Some companies are preparing to raise prices in response to President Donald Trump's tariffs — or already have. Brandon Bell/Getty, Tyler Le/BI |
Prices for everything from sneakers to luxury handbags are climbing as US companies grapple with the ripple effects of President Donald Trump’s sweeping tariff policies. What began as a promise to protect American industry has quickly translated into higher costs for businesses and now, for consumers.
Since April 2, when Trump officially rolled out a 10% baseline tariff on imports from most countries (excluding Canada and Mexico) along with a patchwork of “reciprocal” tariffs, corporations have been adjusting their playbooks. Some acted swiftly with warnings of incoming price hikes, while others have already raised tags on store shelves. The uncertainty in trade policy has amplified the impact, making it harder for companies to plan ahead and forcing them to hedge through higher consumer prices.
Below is a breakdown of how some of the world’s biggest brands from Adidas to Walmart are responding to the new tariff landscape.
Adidas: Tariffs Hit Sportswear Hard
Adidas, the global athletic giant, is bracing for hundreds of millions of euros in tariff costs. The company said Vietnam, which produces more than a quarter of its products, now faces a 20% tariff, while Indonesia, responsible for nearly 19% of output, faces a 19% levy.
The brand has little choice but to push costs onto US consumers. CEO Bjørn Gulden warned that while Adidas can manage near-term operations, “the indirect impact on consumer demand” remains unclear if widespread inflation sets in.
AutoZone: Tariffs Drive Up Car Repair Costs
AutoZone CEO Philip Daniele said tariffs on auto parts will almost certainly be passed on to consumers. A 25% tariff on car imports could increase production costs by as much as $12,000 per vehicle. AutoZone has historically raised prices in anticipation of such policies and says it will continue to do so gradually, meaning drivers could feel the pinch when repairing their cars.
Best Buy: Electronics Prices Expected to Rise
Electronics retailer Best Buy warned that tariffs could drive costs higher across its global supply chain. “The consumer electronic supply chain is highly global and complex,” CEO Corie Barry said. With most components made overseas, any tariffs on imports are expected to ripple down to American households, raising prices on laptops, TVs, and gaming consoles.
Camera Makers: Nikon, Canon, and Leica Adjust
Tariffs have already translated into new price tags for photography enthusiasts. Nikon introduced price hikes in June, while Leica implemented increases on May 1, explicitly citing tariffs as the cause. Canon is also preparing to raise prices but has yet to finalize the scale. For photographers, this means higher costs on cameras, lenses, and accessories gear that was already considered premium.
Conagra: Food Prices Under Pressure
Conagra Brands, the maker of Hunt’s ketchup and dozens of pantry staples, may hike prices as tariffs hit cocoa, olive oil, palm oil, and imported steel used for canned goods. CEO Sean Connolly said it was “too early to tell” the exact size of increases, but food inflation is likely.
Columbia Sportswear: Outdoor Gear Gets Pricier
Columbia CEO Tim Boyle has voiced serious concerns, telling analysts that tariffs make it “very, very difficult to keep products affordable for Americans.” The company has already signaled price increases, warning that outdoor enthusiasts should expect higher costs on jackets, boots, and camping gear.
Macy’s: Selective Price Hikes Amid Store Closures
Macy’s executives said the retailer will selectively increase prices in some categories while closing 150 underperforming stores by 2027. CEO Tony Spring noted tariffs are being “worked into the system slowly,” but consumers can already expect higher prices on clothing and home goods.
Ferrari, Ford, and Volkswagen: Luxury and Everyday Cars Cost More
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Ferrari announced a 10% price hike on certain luxury models starting April 2.
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Ford has raised prices on some Mexican-made models and hinted at more increases if tariffs persist.
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Volkswagen confirmed it will add import fees to offset Trump’s 25% tariff on foreign cars.
In short, both everyday vehicles and high-end sports cars are being hit.
Hermès: Luxury Handbags More Expensive in the US
French luxury house Hermès confirmed a US-only price increase in May to offset tariffs. Shoppers eyeing the iconic Birkin bag or silk scarves will now pay even more in the American market.
Home Depot: Modest but Targeted Increases
Home Depot executives said tariffs will raise prices on select imported categories but stressed most products are US-sourced. Still, consumers tackling large renovation projects may notice incremental cost increases on materials like flooring and tile.
Nike: A $1 Billion Tariff Bill
Nike expects tariffs to cost the company an additional $1 billion in fiscal 2026. To offset the blow, it is planning “surgical price increases” in the US beginning this fall, though the company hasn’t specified which items will be affected. Shoppers should expect higher sneaker prices heading into 2026.
Nintendo: Consoles and Accessories Edge Up
Nintendo hasn’t yet raised the price of its anticipated Switch 2 console, but older Switch models and accessories are already more expensive due to market conditions tied to tariffs.
Procter & Gamble: Everyday Essentials on the Line
Procter & Gamble, the maker of Tide detergent and Charmin toilet paper, has hinted strongly at price hikes. CFO Andre Schulten said the company would deploy “every lever” to minimize the impact but confirmed that raising prices remains likely.
Shein and Temu: Fast-Fashion Gets Costlier
The e-commerce giants Shein and Temu announced identical price hikes starting April 25, citing tariffs and Trump’s crackdown on the “de minimis” loophole that allowed low-value packages to bypass customs taxes. Their once-ultra-cheap apparel and goods may lose their pricing edge in the US market.
Stanley Black & Decker: Tools to Get Pricier
Stanley Black & Decker said tariffs will force a mix of supply-chain tweaks and price hikes. CEO Donald Allan warned of a 2- to 3-month lag, but higher tool prices are coming.
Target: Grocery Shoppers Will Feel It
Target CEO Brian Cornell said fresh produce, in particular, will see higher prices as tariffs affect imports from Mexico and Canada. While Target is trying to protect core pricing categories, consumers should expect to pay more for everyday groceries.
Walmart: Everyday Low Prices Under Threat
Even retail giant Walmart has admitted tariffs are too costly to absorb. CEO Doug McMillon said higher tariffs would “result in higher prices,” while CFO John David Rainey added that the magnitude of the increases is “more than any retailer can absorb.” Shoppers across Walmart’s aisles are already noticing price hikes on everyday goods.
The Bigger Picture: Tariffs Mean Higher Inflation Risks
Economists warn that Trump’s tariff policy could ignite inflation by raising input costs for everything from sneakers and cameras to canned tomatoes and luxury handbags. While some brands have opted for “surgical” price hikes in select categories, others have implemented sweeping increases. The uncertainty surrounding ongoing trade negotiations only deepens the challenge.
For consumers, the bottom line is simple: shopping trips are about to get more expensive. Whether it’s sportswear, electronics, or groceries, tariffs are quietly reshaping America’s retail landscape one price tag at a time.
