Several major US brands — from luxury fashion to everyday consumer goods — are raising or planning to raise prices as a result of continued pressure from tariffs, particularly those imposed on Chinese imports by the Trump administration, Axios reports.
Despite a temporary easing of trade restrictions this month, uncertainty in the global supply chain remains, and many companies say the financial impact is unavoidable.
Although the current administration has indicated more trade agreements are in the pipeline, some businesses say they are still experiencing the fallout of earlier tariffs. In recent months, company executives across industries have warned that the added costs of imported goods are squeezing margins and forcing them to consider price hikes.
Notably, the White House maintains that US consumers do not bear the cost of tariffs. Commerce Secretary Howard Lutnick described concerns about price increases as “silly arguments.” However, several major retailers have publicly indicated the opposite, warning of higher costs and limited supply.
Retailers and Manufacturers Respond
Walmart
Walmart executives stated in May that price increases are likely due to continued tariff pressures. CEO Doug McMillon said the retailer’s narrow profit margins make it impossible to fully absorb the added costs. The company expects consumers may see the effects at the checkout counter as early as late May.Mattel
The toy manufacturer, whose products are predominantly made in China, announced it would be raising prices in response to tariff-related cost increases. CEO Ynon Kreiz reassured investors that many toys would still remain affordable, with 40%–50% of items expected to stay under $20. However, Mattel has paused its financial outlook for the year due to economic volatility.Ralph Lauren
The fashion brand revealed that it will raise prices more than previously anticipated to offset trade-related expenses. Adjustments were initially planned for the fall season, but the company now expects larger increases through spring of the following year.Nike and Adidas
While not all athletic brands directly attributed pricing decisions to tariffs, both Nike and Adidas have signaled upcoming increases. Adidas warned that higher tariffs would likely impact product pricing for the US market, while Nike is implementing new prices starting June 1. Reports suggest that footwear and apparel could increase by $2 to $10 depending on the product category.
Automakers Adjust Pricing Strategies
Subaru
Subaru of America confirmed mid-May that it would raise prices on select vehicle models, citing “current market conditions,” though it did not directly mention tariffs.Volvo
Following a proposal by former President Trump to impose a 50% tariff on European Union imports, Volvo warned that consumers would likely bear a significant share of the increased costs.Ford
Ford is raising prices on three vehicle models produced in Mexico. A company spokesperson attributed the adjustments to typical mid-year changes combined with tariffs.
Experts suggest that even if all trade disputes were resolved today, the effects on pricing and supply chains would linger. Supply disruptions, rising input costs, and thinning inventories have made it difficult for companies to shield consumers from inflationary pressures.
While inflation data has yet to reflect dramatic changes in pricing across the board, shoppers may start to notice higher price tags on clothing, toys, cars, and more in the coming months.
