The trade tariffs implemented by President Donald Trump have unleashed a new wave of global economic uncertainty, the repercussions of which are already being felt in the wallets of American consumers.
Leading brands such as Nike, Adidas, Amazon, Walmart, Mattel, and many others have begun to announce - or hint at - price increases in response to the tariffs imposed on imports, particularly those from Asia and Europe.
An increasingly unpredictable business landscape
Since April 2, 2025, the day the Trump administration labeled as the “Liberation Day”, new tariff rates have been activated that affect products across a wide range of sectors, including sportswear, toys, electronics, food, and automobiles.
Among the new taxes are included: a base tariff of 10% on most imports to the U.S.; a 30% tariff on products from China; specific levies on metals, auto parts, and technology products; the elimination of the de minimis exemption, which benefited Chinese platforms such as Shein and Temu.
This protectionist policy has been described by analysts as "a roller coaster of uncertainty."
According to the Allianz Trade Global Survey 2025, conducted with 4,500 companies across nine countries—including the U.S., the United Kingdom, and China—60% of the companies foresee a negative impact from the trade war, and 45% anticipate a decline in export revenues.
Only 22% of the firms stated that they could absorb the cost of the tariffs without passing it on to the consumer.
Brands that have already announced price increases
Nike
The company confirmed that starting June 1, 2025, it will raise prices in the U.S. The increases will range from $2 to $10 for clothing and footwear. “We periodically evaluate our business and make price adjustments as part of our seasonal planning,” stated Nike, without directly mentioning tariffs. However, analysts like Robert Krankowski from UBS directly associate these changes with the tariff context.
Adidas
CEO Bjørn Gulden was more explicit: "If tariffs remain in place, there will certainly be price increases." They have not yet defined adjustments, but they are monitoring the evolution of the U.S. market. According to Reuters, Adidas may also increase prices on iconic sneakers like Gazelle and Samba.
Puma
The German brand has reduced the volume of goods shipped from China to the U.S. by 10%. It is considering whether to follow in Nike's footsteps, although its lower margins limit that possibility, according to analysts consulted by Reuters.
Amazon
CEO Andy Jassy anticipated that many external sellers would "pass those costs on to the consumer." Although Amazon has not yet reported widespread price increases, some electronic products have already risen in price. The company has adjusted its inventory strategy to mitigate the effects.
Walmart
The retail giant has been one of the most vocal.
“The magnitude of these increases is more than any retailer can absorb,” stated the Chief Financial Officer, John David Rainey.
Walmart will begin raising prices at the end of May, with a "much larger" increase expected for June, according to statements made to CNBC.
Target
Brian Cornell, CEO of Target, mentioned that tariffs will affect fresh products and that the uncertainty will impact quarterly earnings.
Mattel
The company announced that the tariffs could cost it $270 million in 2025, which will lead to price increases.
The CEO, Ynon Kreiz, warned that between 40% and 50% of the products will aim to keep their prices below $20.
Trump responded with a threat: “I will impose a 100% tariff on their toys.”
Stanley Black & Decker
Prices increased in April and another hike is planned for the third quarter.
"We are accelerating adjustments in our supply chain," stated its CEO, Donald Allan Jr.
Best Buy
Its executive director, Corie Barry, confirmed that suppliers will pass on costs to retailers, making "a price increase very likely."
Ford and Subaru
Both car manufacturers have already raised their prices.
Ford will implement increases of up to 1.5% on imported cars.
Subaru indicated that the adjustments are in response to "current market conditions."
Ralph Lauren
The firm will increase more than initially anticipated for the fall and even next spring, according to Wall Street Journal.
Procter & Gamble
Owner of brands such as Pampers and Tide, stated that it will “probably” raise prices due to the inflationary effect of the rates, according to its CEO, Jon Moeller.
Columbia Sportswear
Although it tries to absorb some of the costs, its CEO, Timothy Boyle, acknowledged that "our sector has never experienced a time when the trade rules with the U.S. are so unpredictable."
On Running
This Swiss sports shoe brand also plans to raise prices in July, although it attributes this to a more premium positioning strategy.
Shein and Temu
Both platforms have raised prices after losing the de minimis exemption. One documented example from CNN: a swimsuit set on Shein increased from $4.39 to $8.39 in a single day.
Volvo and Subaru
They are also preparing to adjust prices if new tariffs on European imports come into effect.
The political and economic background
Donald Trump has defended tariffs as a way to make the U.S. "very rich again," but their impact has elicited mixed reactions.
While the White House insists that tariffs are paid by exporting countries, companies claim otherwise.
“Tariffs are inherently inflationary”, said the CEO of Procter & Gamble.
According to the Allianz survey, 42% of exporting companies anticipate a decline in revenue of 2% to 10% over the next year.
Consumer confidence in the U.S. fell in May, according to the University of Michigan, and inflation expectations increased.
Frequently Asked Questions about the Impact of Trump’s Tariffs
Which companies have announced price increases due to Trump's tariffs?
Companies like Nike, Adidas, Amazon, Walmart, Mattel, and Best Buy have announced price increases due to the tariffs imposed by the administration of Donald Trump. These companies indicate that the tariffs have raised their operating costs, which directly impacts the price of their products for consumers.
How do Trump's tariffs affect American consumers?
Trump's tariffs are causing price increases across a wide range of products, including clothing, footwear, toys, electronics, and food. This means that American consumers will have to pay more for everyday products, representing a significant rise in the cost of living. Furthermore, according to a report from the Tax Foundation, American households could face an additional expense of over $2,100 per year due to these tariffs.
Which sectors are most affected by Trump's tariff policies?
The sectors most affected by Trump's tariff policies include consumer electronics, automotive, apparel and footwear, and non-perishable foods. Products such as smartphones, cars, clothing, and essential foods are experiencing a significant price increase due to the high tariffs on imports from China and other countries. This is also causing disruptions in supply chains, impacting the availability of products.
What is the response of companies to the increase in tariffs?
Many companies are passing the costs of tariffs onto consumers through price increases. Some, like Puma and Columbia Sportswear, are trying to absorb part of the costs, but they acknowledge that this is unsustainable in the long run. Moreover, companies like Amazon and Walmart have changed their inventory strategies to mitigate the effects, but they still face significant challenges.
What impact do tariffs have on the global market and the U.S. economy?
Trump's tariffs have triggered global economic tensions, negatively impacting international markets and generating fears of an economic recession. In the United States, the tariffs have caused economic uncertainty, a drop in consumer confidence, and inflationary pressures. Companies are facing higher import costs, which harm their profit margins and affect the economy as a whole.
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