President Donald Trump says his sweeping tariff policy will restore American manufacturing, rebuild the economy, and ensure national security. Whether that happens remains to be seen; meanwhile, the immediate effect of the trade war is that prices are rising.
Because so much of what Americans buy comes from abroad, the cost of everything from kitchen appliances to clothes to cars is about to go up.
We’ve compiled a list of companies that are raising their prices because of Trump’s trade policies. Continue reading to see if your favorite brands are on the list.
Amazon (AMZN) found itself in a battle with the White House this week following a report that it planned to display how much tariffs would raise prices on its main website.
The Trump administration said doing so would be a “hostile and political act,” and the retail giant responded by saying doing so was a brief consideration and never its plan.
The idea was apparently something the team behind Haul, Amazon’s budget shopping experience that competes directly with overseas sellers such as Temu and Shein, had “considered.”
More than 1,000 products on Amazon have seen price increases since Trump’s “Liberation Day” tariff announcement on April 2. According to price analysis firm SmartScout, the average price jump across those products is around 30%.
Amazon CEO Andrew Jassy told CNBC earlier this month that he expects U.S. tariffs to boost prices on a number of consumer goods. And according to Reuters, some Amazon sellers are pulling out of Prime Day amid the tariffs.
–Additional reporting by Shannon Carroll.
Shein warned consumers this month that “to keep offering the products you love without compromising on quality, we will be making price adjustments starting April 25, 2025.”
Trump’s decision to impose a 145% tariff on all Chinese imports and the end of “de minimis” exemption on May 2, which excluded shipments of $800 or less from tariffs, is driving up the fast-fashion giant’s prices. Shein relies heavily on large volumes of low-cost shipments to the U.S., which had previously been covered under that exemption.
Analysis from Bloomberg found price hikes of as much as 377% on Shein’s website.
Like Shein, Temu was heavily reliant on the “de minimis” exemption, and the China-based company is now grappling with 145% tariffs.
The company’s products have already gotten pricier, with the same Bloomberg analysis finding that it is siccing nearly all of its tariff costs onto the consumer.
“The vast majority of Temu’s inventory is sourced from China, so these new tariffs are deeply disruptive to their pricing model,” David Warrick, an executive at supply-chain risk management firm Overhaul, told Quartz earlier this month.
The iconic American car company said that it isn’t immune to tariffs and that it will raise prices this summer — unless the administration provides significant relief.
“We anticipate the need to make vehicle pricing adjustments in the future, which is expected to happen with May production,” Andrew Frick, president of Ford’s (F) gas-fueled and electric car units, said, according to Bloomberg.
While Ford makes the majority of its cars in the U.S., it makes three of its more affordable models in Mexico.
Executives at Stanley Black & Decker (SWK) said Wednesday that the company is raising prices as a result of the tariffs.
“Supply chain adjustments require time to implement,” the tool company’s COO, Christopher Nelson, said, according to the Wall Street Journal. “Pricing actions are the quickest countermeasure at our disposal.”
The company said it raised prices in the high-single-digit percentage in April and is planning another price hike in the third quarter.
Volkswagen (VWAGY) plans to raise prices on its cars — and is going to be transparent about why.
The German automaker said it will add an import fee on its cars’ window stickers to show consumers why prices went up, according to Automotive News.
While Trump signed an executive order this week that prevents tariffs from “stacking” on top of one another — meaning companies already subjected to the newly administered 25% levy on auto imports will not also have to pay a 25% duty on steel and aluminum, or on imports from Mexico and Canada — it might not be enough to halt price hikes.
Volkswagen makes many of its cars in the U.S. but still uses plenty of foreign parts that are subject to tariffs.
Nintendo (NTDOY) made headlines earlier this month when it announced it was delaying preorders of the Nintendo Switch 2 due to tariffs. The company has since resumed preorders and said it will keep the price of the console the same, but it told consumers to expect hikes elsewhere.
“Nintendo Switch 2 accessories will experience price adjustments from those announced on April 2 due to changes in market conditions,” the company said. “Other adjustments to the price of any Nintendo product are also possible in the future depending on market conditions.”
French luxury retail giant Hermes (HESAY) says it will pass the cost of tariffs to U.S. consumers.
“The price increase that we’re going to implement will be just for the U.S. since it’s aimed at offsetting the tariffs that only apply to the American market, so there won’t be price increases in the other regions,” Eric du Halgouët, an EVP at the company said.
Procter & Gamble (PG) CEO Jon Moeller told CNBC he expects his company to raise prices.
“There will likely be pricing [increases] — tariffs are inherently inflationary — but we’re also looking at sourcing options,” he said last week.
Best Buy (BBY) CEO Corie Barry also said her company to raise prices.
“Tariffs at this level will result in price increases,” Barry said on an earnings call in March, explaining that the company is heavily reliant on Chinese and Mexican suppliers. “I think it is very difficult to say, given the backdrop that we’re in, exactly, precisely how big that is.”
The post Amazon, Shein, Temu, and 7 other companies raising prices because of tariffs appeared first on Quartz.
