Major US companies are preparing to raise prices on their products and services due to President Donald Trump’s tariffs. The tariff costs will be passed on to consumers nationwide.
Companies that plan to hike prices include Walmart, Mattel, Best Buy, Temu, Shein, Ralph Lauren, Volvo, Subaru, Ford, Nike, Adidas, Procter & Gamble, and Stanley Black & Decker.
Walmart announced it would raise prices in early May, despite strong quarterly sales. The company cited narrow retail margins as the reason for the price increases.
Other companies that plan to increase prices include Mattel, Best Buy, Temu, Shein, Ralph Lauren, Volvo, Subaru, Ford, Nike, Adidas, Procter & Gamble, and Stanley Black & Decker.
The price hikes are expected to affect various products, including electronics, toys, clothing, furniture, and household items. Consumers may see higher prices as early as the end of May.
Source: https://www.livenowfox.com/news/companies-price-hikes-trump-tariffs