US President Donald Trump’s new round of tariffs, which are imposed to pressure foreign countries into favourable trade deals, has sent shockwaves through the targeted countries. But the move is also hurting the American consumers.
Major global and US companies are reportedly passing rising costs onto American consumers, triggering widespread price hikes across multiple industries, from sportswear to electronics, luxury goods, and automobiles.
Firms that have revised prices so far
The new tariffs imposed by Trump on more than 90 countries around the world have already come into effect.
Below is a list of brands that have already increased prices or warned of price hikes in response to Trump’s tariffs.
Wendy’s: The food joint on Friday cut its sales guidance after posting a bigger-than-expected decline of around 3 per cent and 5 per cent, while it previously foresaw they could be flat to down 2 per cent, according to Bloomberg. Adidas: The sportswear brand warned that it may have to hike prices in the US, after reporting that US tariffs would add around 200 million euros ($231 million) to its costs in the second half of the year, the company confirmed on July 30, 2025. Nike: The brand announced that it has taken measures to offset an estimated $1 billion impact from President Trump’s tariffs, including “a surgical price increase” in the US set to begin this autumn, it said in June. Hermes: Even the luxury market is feeling the heat of tariffs. On April 17, French luxury group Hermes said it would raise its US prices starting in May to offset the impact of Trump’s tariffs. Hermes’ Executive Vice President for Finance, Eric du Halgout, said during an analyst call, “The price increase that we’re going to implement will be just for the US, 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.”Amazon: DataWeave, a data firm for Reuters, found through an analysis that the median price of a basket of more than 1,400 China-made products sold on Amazon to US buyers rose by 2.6 per cent between January and mid-June, which shows that tariff-related costs are being slowly passed onto online shoppers.Walmart: America’s largest retailer, Walmart, has reportedly raised prices for a range of goods. A CNBC analysis tracked the prices of about 50 items across various categories between May and June 2025 and found increases as high as 51 per cent. Tariff impact: Billions flowing into US economy, claims Trump
US President Donald Trump’s new tariffs on more than 90 countries around the world have already come into effect.
Just before the deadline passed for countries to negotiate US trade deals, Trump posted on his Truth Social platform that billions of dollars were now flowing into the US as a result of his import taxes. Trump is using tariffs to encourage jobs and manufacturing industries to return to America, among other political goals, the BBC reported.
In a separate move on Wednesday, Trump threatened to raise the tariff on imports from India to 50%, unless it stopped buying crude oil from Russia. He also threatened a 100% tariff on foreign-made computer chips, to push tech firms to invest more in the US, the news report said.