Americans To Pay Heavily As Trump’s Tariffs Bite Consumers And Companies; Groceries, Diapers, Toilet Paper Get Costlier

New York : Americans, it seems, are becoming the biggest victims of Donald Trump’s tariff war against foreign countries, including India. Trump’s move has boomeranged, and American buyers will be paying more as companies pass on the higher cost of imports to consumers.

Prices for a wide range of goods are going up as businesses in the US adjust to higher import expenses after the Trump administration’s tariff policy came into effect. Trump has introduced a 10% standard tariff on most imports, with a steeper 30% rate targeting many Chinese products. Certain items like steel and aluminium are subject to even higher duties.

As a result, consumers could see higher prices on everything from food and apparel to toys and automobiles. Retail giant Walmart said it would be selling more expensive goods soon because Trump’s tariffs were “too high”, CNN reported.

Ford, Best Buy, and several other retailers have indicated they might raise prices in the near future. On April 15, Walmart announced it would raise prices, citing Trump’s tariffs as excessively high — especially on goods manufactured in China.

“We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” Walmart CEO Douglas McMillon said. Walmart’s Chief Financial Officer, John David Rainey, told CNBC that price adjustments are expected by the end of May, with more significant increases likely to follow in June.

Household product maker Procter & Gamble (P&G), which owns brands like Pampers, Tide and Charmin, said on April 24 it was considering raising prices in some categories and markets, CNN reported. P&G CEO Jon Moeller told CNBC that price increases for consumers are “likely” since “tariffs inherently drive inflation”.

Diapers or nappies by Pampers, and detergents by Tide and toilet paper by Charmin are everyday products that are going to get costlier. In April, Stanley Black & Decker, which owns power tool brands, raised prices by an average of high single-digits because of tariffs. Another round of price increases will come later this year, according to the CNN report.