Adidas, Shein, Walmart, and Best Buy are among the 10 companies which are set to increase their product prices as President Donald Trump’s baseline tariffs and charges on most Chinese imports weigh on the US imports, reported the news portal CNN.
According to earlier reports, Donald Trump imposed a baseline tariff rate of 10 per cent on all imports into the United States and a recent 30 per cent on imports of Chinese goods.
Most of these business-to-consumer companies have called out Trump’s tariffs as “too high” and decided to hike the cost of the products to offset the effect of the import duties on the consumer.
Here are the 10 companies which will raise prices
1. Adidas: The company, which designs and manufactures athletic and sports lifestyle products, said that the higher costs are due to the prevailing rate of the Trump tariffs.
“Given the uncertainty around the negotiations between the US and the different exporting countries, we do not know what the final tariffs will be,” Adidas CEO Bjørn Gulden said, cited the news agency.
Gulden also forecasted that the increase in cost due to the higher tariffs will result in the rise in the product prices.
“Cost increases due to higher tariffs will eventually cause price increases,” he said as per the report.
2. Walmart: The multinational hypermarket chain operator, Walmart, on 15 April 2025, said that the tariffs were “too high” for the products which were imported from China.
“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,” said CEO Douglas McMillon in the earnings call, cited the news portal.
The price changes at Walmart are likely to be effective by the end of May 2025. The prices are expected to increase much more in June 2025, the CEO told the news portal CNBC.
3. Shein: US President Donald Trump signed an exemption order that eliminated the “de minimis” exemption, which skipped the shipments of goods worth less than $800.
The news portal reported that a bathing suit set from Shein cost $4.39, and after the price increase, it cost $8.39, which marks a 91 per cent increase in the price.
4. Temu: The company made a price adjustment due to changes in global trade rules and tariffs.
“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 adjustment starting April 25, 2025,” said the company in an announcement cited in the news report.
As per the agency report, two patio chairs were selling on Temu for $61.72 on 24 April 2025. After the price increase, the cost jumped to $70.17.
5. Best Buy: In the March 2025 earnings, the company said that it is going to pass on some of the tariff effect to the retailers, which may likely increase the prices of the commodities for the US buyers.
“Vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely,” said Best Buy, cited the news portal.
6. Mattel: Chief Executive Ynon Kreiz of Mattel on 6 May 2025, told the company investors that the firm was planning to raise prices due to the tariffs imposed by US President Donald Trump.
“Under the current scenarios we are considering,” said Kreiz, according to the news portal’s report.
The CEO also advocated for zero tariffs on toys and games around the world, as per the report.
7. Ford: Ford’s CFO Sherry House said that the US-based automaker expects to increase its prices by 1.5 per cent in the second half of 2025. This came after the imports for the auto industry were hit with 25 per cent tariffs.
Ford extended its ‘employee pricing’ offer till July as consumers rushed to buy vehicles ahead of the Trump tariffs, as per the report.
8. Subaru: Japanese auto manufacturer Subaru said that it will also increase its US prices to “offset” the increased cost due to the Trump tariffs.
“The changes were made to offset increased costs while maintaining a solid value proposition for the customer,” said a Subaru of America spokesperson in an official statement, cited the news portal.
9. Procter & Gamble: Procter & Gamble, which owns many popular FMCG brands, in an earnings call on 24 April 2025, said that the company will consider raising the FMCG prices for some categories and markets.
P&G CEO Jon Moeller told the news portal CNBC that “there will likely” be a price hike for the consumers.
10. Stanley Black & Decker: In April 2025, Stanley Black & Decker increased its prices by an average of higher single digits after Trump tariffs. The company also said there will be another round of tariffs which are expected to come later this year.
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