The impact of newly announced tariffs on imports is still uncertain, making it difficult for consumers to predict price changes across various industries. However, several brands have provided updates on their pricing strategies in response to the tariffs.
Furniture and home goods are expected to be less affected, with Swedish brand Hem stating that it does not foresee any immediate price increases due to its dedicated warehouse in Chicago. Industry West, a Florida-based company, warned customers of “unexpected cost increases” that could lead to price adjustments over the next week or two.
In contrast, Areaware plans to raise prices, but this won’t take effect until July. Meanwhile, Yun Hai, a Taiwanese goods shop, is taking a cautious approach, waiting for the dust to settle before making any strategic changes.
Some brands are taking proactive measures to minimize costs, such as Burlap & Barrel, which committed to supporting smallholder farmers and has already capped prices on its core spices at $10. Dieux Skin’s co-founder Charlotte Palermino explained that beauty products may be impacted by tariffs, but the company will not increase prices right now.
The situation is particularly challenging for small businesses, with Mochi Kids stating that Trump’s tariffs are hurting their operations and will soon be passed on to consumers. Nintendo has also announced that preorders for the Nintendo Switch 2 have been delayed to assess the potential impact of tariffs on the market.
As the situation continues to evolve, The Strategist will provide updates on any brand announcements or changes in pricing strategies.
Source: https://nymag.com/strategist/article/tariff-brand-announcement-tracker.html