Bad news for your pocket, these are the companies that will raise the prices of their products due to new tariffs

Ahead of the introduction of Donald Trump’s ‘Liberation Day’ tariffs, shoppers and consumers in the United States are facing a period of uncertainty with degrees of volatility linked with the policy.

Some shoppers are even stocking up on certain products which are expected to get much more expensive over the coming weeks.

A universal 10% tariff applies to nearly all imports, except for semiconductors, pharmaceuticals and some other items. Those levies come on top of specialized tariffs on steel, aluminum and autos. China, the third-largest U.S. trading partner, will now face cumulative tariffs of a massive 145%.

Faced with higher tariffs, a number of prominent companies have openly stated that they will increase prices as a measure to deal with tariffs.

Corporations offer tariff related statements

Both Shein and Temu (Chinese e-commerce sites) released statements claiming: “Due to recent changes in global trade rules and tariffs, our operating expenses have gone up,” the statements said. “To keep offering the products you love without compromising on quality, we will be making price adjustments.”

Nintendo stated that the eagerly awaited Switch 2 will remain at the previously announced April 2 price but accessories for the new device are set to experience a price hike.

Best Buy CEO Corie Barry told analysts to expect price increases as a result of higher tariffs.

“Tariffs at this level will result in price increases,” Barry said on an earnings call in March, before Trump escalated tariffs a month later. “I think it is very difficult to say, given the backdrop that we’re in, exactly, precisely how big that is.”

French luxury goods manufacturer Hermès plans to raise prices for U.S. customers on May 1, a company executive said last week.

“The price increase that we’re going to implement will be just for the U.S. 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,” Eric du Halgouët, Hermès’ executive vice president for finance, told analysts.

Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all.

Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.