President Donald Trump’s tariffs have shaken up the U.S. market, and many companies are now warning consumers that prices will rise. These tariffs — including a 10% baseline on most imports and a 30% tariff on many Chinese goods — are causing a ripple effect across many everyday products, from groceries to electronics and cars.
Here’s a closer look at some major companies that are planning price hikes, along with how these tariffs are impacting what Americans pay.
Walmart: Raising Prices by June
Walmart recently announced it will increase prices because Trump’s tariffs are “too high,” especially on products made in China.
Walmart CEO Douglas McMillon said, “We will do our best to keep prices low, but the magnitude of tariffs means we can’t absorb all the added costs.”
Price increases are expected to start by the end of May and rise more steeply in June.
Mattel: Toy Prices on the Rise
Mattel, the world’s biggest toy maker, confirmed it will raise prices due to tariffs. CEO Ynon Kreiz said 40% to 50% of Mattel’s products will stay under $20, but overall costs will go up.
Trump even threatened Mattel directly, saying he might slap a 100% tariff on their toys — their biggest market is the U.S.
Best Buy and Electronics: Expect Higher Costs
Best Buy warned that tariff costs will likely be passed on to consumers. While some electronics have temporary tariff exemptions, these won’t last forever.
For example, Nintendo delayed pre-orders for its Switch 2 console over tariff concerns but said the base price will stay at $450. Accessories, however, may get more expensive.
Sony’s CFO also mentioned price increases are possible for PlayStation products.
Shein and Temu: Price Jumps After Tariff Rule Changes
Chinese online retailers Shein and Temu were previously spared tariffs on small shipments under $800. That exemption was removed by Trump’s executive order.
Both companies announced price increases starting April 25, 2025. For example, patio chairs on Temu jumped from about $62 to $70 overnight. On Shein, a bathing suit set nearly doubled from $4.39 to $8.39.
Ford and Subaru: Auto Prices Go Up
Imported cars and parts face a 25% tariff. Ford’s CFO expects U.S. car prices to rise by up to 1.5% in the second half of 2025 due to tariffs.
Ford extended employee pricing deals through July to help customers buy before prices go up.
Subaru also announced price increases in the U.S., citing “market conditions” and higher costs, without specifying exact amounts.
Household Brands and Tools: Price Increases Coming
Procter & Gamble, which owns brands like Pampers and Tide, signaled it may raise prices due to tariffs. CEO Jon Moeller called tariffs “inherently inflationary.”
Stanley Black & Decker, makers of power tools, already raised prices by high single digits in April and plan more increases later this year.
■ Related News
Adidas: Uncertain Tariffs, But Higher Prices Likely
Adidas is preparing for higher U.S. prices as tariffs continue to fluctuate. CEO Bjørn Gulden said ongoing trade negotiations make it hard to predict exact tariffs, but added, “Cost increases due to higher tariffs will eventually cause price increases.”
What This Means for You
From toys to tools, cars to clothes, tariffs are making many everyday items more expensive. Companies are reluctant but clear: the extra costs from Trump’s tariffs can’t just be absorbed — they will hit consumers’ wallets. Shoppers should prepare for rising prices across a wide range of products as these tariffs stay in place.
If you want to stay ahead of price changes, keep an eye on announcements from your favorite retailers and consider buying before prices climb further.
Source: CNN – These companies will raise prices because of Trump’s tariffs
