These companies will raise prices because of Trump’s tariffs

President Donald Trump's tariffs have caused confusion for many Americans. Numerous companies are announcing price changes due to these tariffs.

Trump has imposed a 10% tariff on most imports and a 30% tariff on many Chinese goods. Some items, like steel and aluminum, face even higher rates.

Many retailers warn they cannot absorb these additional costs. This means prices for groceries, clothing, toys, and cars may rise.

Walmart recently stated it will raise prices because of high tariffs. Other retailers like Ford and Best Buy also hinted at potential price hikes.

Here are some companies that might increase prices on everyday items:

Walmart

On April 15, Walmart announced it would raise prices due to tariffs. CEO Douglas McMillon said the tariffs were "too high," especially for Chinese products.

He mentioned that Walmart would try to keep prices low but couldn't absorb all the costs. Price changes are expected by the end of May, with more increases in June.

Mattel

On May 6, Mattel announced it would raise toy prices due to tariffs. CEO Ynon Kreiz expects 40% to 50% of its products will stay under $20.

He also called for zero tariffs on toys globally. Trump threatened Mattel with a 100% tariff if they did not comply.

Best Buy

Best Buy warned in March that vendors would pass along tariff costs. This could lead to price increases for American consumers.

Some electronic components are temporarily exempt from tariffs but this won't last long. Nintendo delayed pre-orders for its Switch 2 console due to tariff concerns.

Shein and Temu

Chinese retailers Shein and Temu were previously exempt from some tariffs. However, Trump signed an order removing this exemption.

Both companies announced price adjustments starting April 25, 2025, due to increased operating expenses. Prices have already risen; for example, patio chairs went from $61.72 to $70.17 overnight on Temu.

Ford and Subaru

Imported cars now face a 25% tariff along with many auto parts. Ford expects US car prices may rise by up to 1.5% later this year due to these tariffs.

Subaru also plans price increases in the US but did not specify amounts. They aim to offset increased costs while maintaining value for customers.

Procter & Gamble and Stanley Black & Decker

Procter & Gamble is considering raising prices in some categories because of tariffs. CEO Jon Moeller noted that "tariffs are inherently inflationary."

Stanley Black & Decker raised prices by high single-digits in April due to similar reasons and plans further increases later this year.

Adidas

Adidas indicated that higher costs are likely for US products because of ongoing tariff negotiations. CEO Bjørn Gulden stated uncertainty around final tariffs could lead to eventual price increases.

This report was contributed by CNN's Ramishah Maruf, Samantha Delouya, Chris Isidore, Elisabeth Buchwald, and Nathaniel Meyersohn.