Trump tariffs to burn a hole in Americans' pockets: From Nike to Hermes, these firms announce price hike in US market
Major global and US companies are reportedly passing rising costs onto American consumers, triggering widespread price hikes across multiple industries, from sportswear to electronics, luxury goods, and automobiles.
The new tariffs imposed by Trump on more than 90 countries around the world have already come into effect.
Below is a list of brands that have already increased prices or warned of price hikes in response to Trump's tariffs. Wendy's: The food joint on Friday cut its sales guidance after posting a bigger-than-expected decline of around 3 per cent and 5 per cent, while it previously foresaw they could be flat to down 2 per cent, according to Bloomberg.
Adidas: The sportswear brand warned that it may have to hike prices in the US, after reporting that US tariffs would add around 200 million euros ($231 million) to its costs in the second half of the year, the company confirmed on July 30, 2025.
Nike: The brand announced that it has taken measures to offset an estimated $1 billion impact from President Trump's tariffs, including 'a surgical price increase' in the US set to begin this autumn, it said in June.
Hermes: Even the luxury market is feeling the heat of tariffs. On April 17, French luxury group Hermes said it would raise its US prices starting in May to offset the impact of Trump's tariffs. Hermes' Executive Vice President for Finance, Eric du Halgout, said during an analyst call, "The price increase that we're going to implement will be just for the US, since it's aimed at offsetting the tariffs that only apply to the American market. So, there won't be price increases in the other regions.'
Amazon: DataWeave, a data firm for Reuters, found through an analysis that the median price of a basket of more than 1,400 China-made products sold on Amazon to US buyers rose by 2.6 per cent between January and mid-June, which shows that tariff-related costs are being slowly passed onto online shoppers.
Walmart: America's largest retailer, Walmart, has reportedly raised prices for a range of goods. A CNBC analysis tracked the prices of about 50 items across various categories between May and June 2025 and found increases as high as 51 per cent.
US President Donald Trump's new tariffs on more than 90 countries around the world have already come into effect.
Just before the deadline passed for countries to negotiate US trade deals, Trump posted on his Truth Social platform that billions of dollars were now flowing into the US as a result of his import taxes. Trump is using tariffs to encourage jobs and manufacturing industries to return to America, among other political goals, the BBC reported.
In a separate move on Wednesday, Trump threatened to raise the tariff on imports from India to 50%, unless it stopped buying crude oil from Russia. He also threatened a 100% tariff on foreign-made computer chips, to push tech firms to invest more in the US, the news report said.
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India Today
5 minutes ago
- India Today
US tariff impact will be temporary, private sector should step up: Chief economist
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The government is aware of the situation and conversations with the impacted sectors have already begun, Nageswaran said, adding that one will hear from the policymakers in the coming days and weeks, but people have to be speculation on whether US officials will visit India for trade talks later this month as reported, Nageswaran said the upcoming meet in Alaska between US President Donald Trump and his Russian counterpart Vladmir Putin is likely to influence the to spell out any details on the trade negotiations between India and the US, the academic-turned-advisor said things are very fluid at the world stage right now with relations swinging from cooperation to stalemate, and spelled out his expectation of the impact of a 50 per cent US tariff on Indian exports."I do believe that the current situation will ease out in a quarter or two. 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Time of India
38 minutes ago
- Time of India
Europe finally embraces air conditioning, amid heat waves
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Time of India
an hour ago
- Time of India
Older US borrowers face rising student loan delinquency: How to avoid default under Trump's crackdown
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