by Nahlah Abdur-Rahman
May 25, 2025
Companies from a variety of sectors from cars to apparel have already told customers to expect price hikes.
As Trump’s tariffs begin to impact the U.S. and global economy, these companies have already prepared for the hiked production costs with new prices.
Trump’s tariffs demands have faced their own shifts, including fluctuating numbers to main production hubs like China. However, as the current U.S. administration remains adamant in the growing trade war, many Americans will now bear the burden of covering these costs.
Currently, Trump has imposed a 10% tax on imports, with 30% tariffs on goods imported from China. Now, America’s biggest retailers and companies ranging from cars to toys have announced price hikes to combat this new barrier.
Walmart has already shared price increases over the “too high” tariffs, especially the ones on goods made in China. The retailer has initiated the new price changes, with many more noticeable hikes coming in the next few weeks. A Reuters report confirmed the retailer sourced 60% of its products from China in 2023.
“We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” Walmart CEO Douglas McMillon said in an earnings call, as reported by CNN.
Mattel, the owner of Barbie, also confirmed this month that the toy manufacturer expects to raise prices in light of the tariffs. Despite undergoing price changes due to the “current scenarios we are considering,” Chief Executive Ynon Kreiz hopes to keep 40-50% of products within a $20 or less range.
According to Yahoo Finance, the company earned over 5.4 billion in revenue in 2022 making it among the top toy companies in the world. However, Mattel has faced backlash by President Trump over their stance against tariffs on children’s products like toys and games. Trump has threatened to place a “100% tariffs” pricing Mattel out of the U.S. market. Despite the claims, no tariffs such as this have went into effect yet.
Best Buy also deemed price increases due to tariffs “highly likely.” While some electronics distributed by the retailer remain exempted by the tariffs, customers should not expect this to last. Popular electronic devices, such as Nintendo’s Switch gaming console, have already delayed release dates over the unclear tariff regulations.
Unsurprisingly, Chinese e-commerce hubs like Shein and Temu have also noted that price adjustments will take place. Although these companies were initially able to bypass tariffs over a “de minimis” exemption for goods less than $800, Trump’s recent retraction of that ruling has the companies leaning on customers to make up the cost difference.
“Due to recent changes in global trade rules and tariffs, our operating expenses have gone up. To keep offering the products you love without compromising on quality, we will be making price adjustments starting April 25, 2025,” Temu wrote in a notice similar to an announcement Shein made.
However, car companies like Ford and Subaru are also facing issues as imported cars and car parts now hold a 25% tariff. Ford expects to raise it prices by 1.5% over these price regulations. As for Subaru, it will change its pricing by an unknown margin due to “market conditions.”
Customers of household products and goods should also get ready to pay more at the register. Popular product makers like Procter & Gamble, and Stanley Black & Decker expressed their intentions to raise prices over “inherent” inflation surrounding the tariffs. In the apparel sector, Adidas prepared customers for new price hikes despite the final number for the tariffs remaining unclear.
RELATED CONTENT: Analysts Feel Trump’s Tariffs Won’t ‘Make Manufacturing Jobs Great Again’ In The U.S.
