CNN published a list of companies whose prices have increased due to Trump's tariff hikes, and these companies stated they would not "absorb" the tariffs as Trump suggested.

The report indicated that Trump's policy of comprehensive tariff increases caught many Americans off guard. The subsequent announcement of the company price adjustment list was equally shocking.

Trump's tariff policies include a 10% baseline tariff on most imported goods and a 30% tariff on Chinese products. Some items, such as steel and aluminum, face even higher rates.

Many retailers have warned that they will not "absorb" the additional costs brought by the import tariffs as Trump suggested. This means that American consumers may have to pay higher prices for various goods, from groceries, clothing, toys, to cars.

Walmart is one of the large retailers recently stating it will raise prices soon due to "excessive" tariffs imposed by Trump. Other retailers suggesting possible price hikes include Ford and Best Buy.

Below is a list of some companies that may increase prices for daily necessities—whether or not these companies directly attribute the price increase to Trump's tariffs.

Walmart:

On April 15, Walmart said it would raise prices due to the "excessive" tariffs imposed by the Trump administration, especially those targeting goods made in China.

"We will do everything we can to keep prices low. But given the scale of the tariffs, even at the reduced rates announced this week, with the current slim profit margins in retail, we cannot absorb all the pressure," said Doug McMillon, Walmart's CEO, during the earnings call.

Walmart CFO Brett Biggs told CNBC that the price adjustment measures might take effect by the end of May, with "significant increases" expected in June.

Mattel:

On May 6, toy giant Mattel announced it would increase product prices due to tariff hikes. CEO Ynon Kreiz informed investors that, under the current tariff response plan being considered, approximately 40% to 50% of its products are still expected to remain priced below $20. However, he also called for a zero-tariff policy on toys and games globally.

Trump had threatened Mattel by saying he would "tax their toys at 100%, making it impossible for them to sell a single toy in the U.S., the largest market."

Best Buy:

In its March earnings call, electronics retailer Best Buy warned, "Our full-line suppliers will pass part of the tariff costs onto retailers, and American consumers are likely to see price increases."

Some electronic components and equipment are temporarily exempt from Trump's tariffs, but this exemption will not last indefinitely.

For example, Nintendo postponed the pre-sale date for the Switch 2 gaming console due to tariff issues. The company later stated that the console price would remain unchanged at $450 but that accessories would be adjusted due to "market environment changes." The company noted that any product could face similar price adjustments due to "market environment changes."

Meanwhile, Kenichiro Yoshida, CFO of Sony, which manufactures PlayStation, said during the earnings call, "We may pass on these costs."

Shein and Temu:

Chinese retailers Shein and Temu were largely unaffected by tariffs due to the "de minimis" exemption clause (i.e., goods valued below $800 are exempt from tariffs). However, Trump signed an executive order canceling this exemption policy.

"Due to recent adjustments in global trade rules and tariff policies, our operating costs have increased. To continue providing you with your favorite products while maintaining quality, we will adjust prices starting April 25, 2025," Temu wrote in its announcement. The statement is similar to the notice released by Shein.

Both companies subsequently raised prices on some items. For instance, CNN's investigation found that two patio lounge chairs on the Temu platform were priced at $61.72 on April 24 but rose to $70.17 after the price adjustment took effect the next day. On the Shein platform, a swimsuit set was priced at $4.39 on April 24 but surged to $8.39 the following day, a 91% increase.

Ford and Subaru:

Imported vehicles face a 25% tariff, and most automotive parts are subject to similar rates, although some manufacturers can currently apply for partial refunds.

Ford CFO Cheryl Haus said that due to the impact of tariffs, the company expects to increase car prices by up to 1.5% in the U.S. market in the second half of 2025.

This automaker extended its employee discount program until July because consumers rushed to buy cars before Trump's tariffs took effect.

Procter & Gamble, Stanley Black & Decker:

P&G, which owns brands such as Pampers, Tide, and Charmin, stated during its April 24 earnings call that it would consider raising prices in certain categories and markets.

On the same day, CEO Jon Moeller told CNBC that "it is very likely" there will be price increases for consumers because "tariffs themselves lead to inflation."

In April, Stanley Black & Decker, which owns several electric tool brands, raised its average product prices by a high single-digit percentage due to tariffs. Another round of price hikes is expected later this year.

Adidas:

Adidas said that due to Trump's unpredictable tariff policies, its products in the U.S. market are likely to face cost increases.

"Given the uncertainty of negotiations between the U.S. and various exporting countries, we cannot predict what the final tariff rate will be," Adidas CEO Bjorn Gulden said in the earnings statement on April 29.

He added, "The cost increases caused by higher tariffs will ultimately be passed on as price increases."

Original article: https://www.toutiao.com/article/1833127983855882/

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