Impact of Trump Tariffs on US Consumers: Major Brands Affected

US President Donald Trumpโs tariff policies are increasingly impacting American consumers, as major companies announce price increases to offset rising import costs. The administration has implemented a 10% baseline tariff on most imports and a staggering 30% duty on goods from China, with certain categories, such as steel and aluminum, facing even higher rates. Despite a recent temporary agreement that reduced some tariffs on Chinese products, businesses continue to struggle with heightened costs and uncertainty surrounding future trade policies.
Impact on Major Retailers
A growing number of prominent brands, including Walmart, Mattel, Ford, and Best Buy, have either announced or hinted at price hikes directly linked to Trumpโs renewed tariff policies. The sweeping import duties, particularly on Chinese goods, are compelling companies to pass these increased costs onto consumers. Walmart, for instance, indicated on April 15 that it would raise prices due to the โhighโ tariffs on products made in China. CEO Doug McMillon acknowledged the challenge of maintaining low prices, stating that the magnitude of the tariffs makes it impossible to absorb all the financial pressure.
Similarly, Mattel, the toy manufacturer known for its Barbie line, revealed plans on May 6 to increase prices, although it aims to keep 40โ50% of its products priced under $20. CEO Ynon Kreiz emphasized that while many products will remain affordable, others will see price increases due to tariff pressures. Best Buy also warned during its March earnings call that suppliers are raising prices across various product lines, which will likely be passed on to consumers, especially if temporary exemptions for electronics expire.
Price Increases Across Various Sectors
The impact of tariffs is not limited to retail giants. Popular Chinese e-commerce platforms like Shein and Temu have also raised prices following Trumpโs decision to eliminate the โde minimisโ exemption that previously spared low-cost imports from tariffs. For example, the price of patio chairs on Temu surged from $61.72 to $70.17, while Sheinโs swimsuit sets experienced a staggering 91% price increase.
In the automotive sector, imported vehicles are now subject to a 25% tariff, prompting Ford to announce price hikes of up to 1.5% for certain models in the latter half of 2025. The company also confirmed increases for three models manufactured in Mexico. Subaru is adjusting prices on several models as well, citing โmarket conditionsโ as a contributing factor.
Responses from Apparel and Footwear Brands
Several well-known apparel and footwear brands are also responding to the tariff situation with planned price increases. Ralph Lauren has indicated it will raise prices more aggressively than initially anticipated. Adidas CEO Bjรธrn Gulden warned that tariffs would inevitably lead to higher costs across all U.S. product lines. Nike is set to implement price increases starting June 1, although it has not officially linked this decision to the tariffs.
As tariffs continue to reshape global supply chains and retail economics, consumers are already feeling the effects at the checkout counter. The trend of rising prices may intensify if trade tensions escalate further, leaving many to wonder how long these economic pressures will persist.
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