Trump tariffs hit US consumers: Which major brands are hiking prices?
NEW DELHI: US President Donald Trump's wide-reaching tariff policies are beginning to take a toll on American consumers, with major companies announcing price hikes to counter rising import costs.
Trump's administration has imposed a 10% baseline tariff on most imports and a 30% duty on Chinese goods, with some categories, such as steel and aluminum, facing even steeper rates.
While a recent temporary deal reduced some tariffs on Chinese products, businesses are still grappling with increased costs and continued uncertainty over future trade policies.
Major brands hiking prices amid Trump tariffs
A growing number of major brands—including Walmart, Mattel, Ford, and Best Buy—have announced or hinted at price hikes as a direct result of Trump's renewed tariff policies.
The sweeping import duties, especially on goods from China, are pushing companies to pass rising costs on to consumers.
Walmart:
Walmart said on April 15 it would raise prices due to 'high' tariffs on Chinese-made products. CEO Doug McMillon stated that the company would try to keep prices low but acknowledged that 'the magnitude of these tariffs makes it impossible to absorb all the pressure.'
Mattel:
Mattel the toy giant behind Barbie, revealed plans on May 6 to increase prices, though it aims to keep 40–50% of its products priced under $20.
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CEO Ynon Kreiz said that although nearly half its products will still be priced under $20, others will increase in cost due to tariff pressures. He also called for the removal of tariffs on toys globally.
Best Buy:
Best Buy warned during its March earnings call that suppliers were increasing prices across product lines, with those costs likely to be passed on to consumers—especially if temporary exemptions for electronics expire.
Shein and Temu:
Shein and Temu popular Chinese e-commerce platforms, have also raised prices following Trump's move to eliminate the 'de minimis' exemption that spared low-cost imports from tariffs. Temu patio chairs jumped from $61.72 to $70.17, while Shein's swimsuit sets saw a 91% price spike.
Ford and Subaru:
Imported cars now face a 25% tariff, prompting Ford to raise vehicle prices up to 1.5% in the second half of 2025.
Ford also confirmed sticker price hikes for three Mexico-made models. Subaru said it is adjusting prices on several models due to "market conditions."
Ralph Lauren,
Adidas,
Nike:
Ralph Lauren plans to increase prices more aggressively than previously planned. Adidas CEO Bjørn Gulden warned that tariffs would 'eventually cause higher costs' across all US product lines. Nike is also set to raise prices starting June 1, though it did not officially link the move to tariffs.
As tariffs reshape global supply chains and retail economics, consumers are already beginning to feel the impact at the checkout counter, and the trend may intensify if trade tensions escalate.
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