 |
| Some companies are preparing to raise prices in response to President Donald Trump's tariffs — or already have. Brandon Bell/Getty, Tyler Le |
The impact of President Donald Trump’s sweeping tariffs is beginning to show up on price tags across the US. From sneakers and luxury handbags to canned foods, cars, and everyday groceries, major companies are signaling that consumers should brace for higher costs.
While businesses often adjust prices for reasons ranging from supply chain challenges to shifts in demand, many are directly pointing to tariffs as the main culprit. Trump’s so-called “Liberation Day” on April 2 — which introduced a 10% baseline tariff on imports from most countries (excluding Canada and Mexico) alongside a series of “reciprocal” tariffs — has already created ripple effects across industries.
Adidas: Sportswear Prices on the Rise
Adidas warned that tariffs could add more than €200 million ($218 million) in costs in the second half of 2025. With Vietnam and Indonesia — key production hubs for Adidas — facing tariffs of 20% and 19% respectively, the German sportswear giant confirmed that US consumers will see higher prices.
CEO Bjørn Gulden admitted that the brand cannot yet predict how much consumer demand will suffer if tariffs continue to fuel inflation.
Walmart and Target: Everyday Essentials Get More Expensive
Walmart, the world’s largest retailer, acknowledged in its earnings call that higher tariffs are forcing up costs on key goods. CEO Doug McMillon said bluntly: “Even at the reduced levels, the higher tariffs will result in higher prices.”
CFO John David Rainey added that while Walmart is committed to low prices, “the magnitude of these increases is more than any retailer can absorb.”
Target also warned of price hikes, particularly in produce imported from Mexico and Canada. CEO Brian Cornell admitted that “consumers will likely see price increases” in the near term.
Home Depot: Tariffs Sneak Into Home Improvement Costs
While most of Home Depot’s products are sourced domestically, the retailer noted that certain imported goods are now more expensive. EVP of Merchandising William Bastek said shoppers could expect “modest price movement in some categories,” though the company is trying to offset increases by keeping the cost of entire project bundles lower.
Automakers: Ford, Volkswagen, and Ferrari Feel the Heat
The auto industry is among the hardest hit, with tariffs of up to 25% on car imports adding thousands of dollars to production costs.
-
Ford has already raised prices on some Mexican-made models and hinted that both gas and electric vehicles will become more expensive.
-
Volkswagen announced it would impose import fees on vehicles produced outside the US.
-
Ferrari confirmed that certain models imported from Europe would see a 10% price increase as of April.
Tech and Electronics: Best Buy and Camera Makers Pass Along Costs
Best Buy CEO Corie Barry said tariffs are “critically important” to its supply chain and confirmed that “price increases for American consumers [are] highly likely.”
Meanwhile, camera giants Nikon, Canon, and Leica each rolled out or announced price hikes tied directly to tariffs on imported photographic equipment. Leica emphasized that the changes “are not brand-driven but tariff-driven.”
Consumer Goods and Fashion: P&G, Nike, Columbia, and Hermès Adjust Pricing
-
Procter & Gamble, maker of Tide and Charmin, is preparing “surgical” price increases to offset tariffs on raw materials like cocoa, palm oil, and tin steel for canned goods.
-
Nike expects $1 billion in added tariff costs and will implement phased price increases starting this fall.
-
Columbia Sportswear CEO Tim Boyle warned that “trade wars are not good and not easy to win,” signaling price hikes to come.
-
Hermès said it will increase US prices in May specifically to counter tariff costs, targeting its luxury handbags and accessories.
E-Commerce and Fast Fashion: Shein and Temu Forced to Adjust
Both Shein and Temu announced near-identical statements blaming tariffs and the crackdown on the de minimis trade loophole for upcoming price increases. Customers were given notice that prices would rise after April 25.
These platforms, once dominant for ultra-cheap imports, are being forced to reprice products that previously entered the US tariff-free.
Specialty Brands: From Watches to Tools
-
Swatch plans to raise US watch prices by 5–15% to counter a steep 39% tariff on Swiss goods. The company even mocked the policy with a special edition watch titled “WHAT IF… TARIFFS?”.
-
Stanley Black & Decker confirmed it will push through delayed price increases on tools and hardware as supply chains absorb tariff costs.
The Bigger Picture: Tariffs and Inflation
Economists warn that tariffs risk feeding inflationary pressures, as companies across industries — from food to fashion to cars — pass along higher costs to shoppers. With consumer inflation already creeping up in 2025, the tariffs risk making everyday essentials and big-ticket purchases even more expensive.
And while the White House continues to negotiate trade deals, uncertainty itself has become a driver of price hikes. For many businesses, the message is clear: tariffs equal higher costs, and ultimately, consumers will be footing the bill.
