The ongoing tariffs and on-again, off-again trade measures are unsettling businesses worldwide, and some major retailers in the US have already raised prices or warned of future increases.

In recent months, President Donald Trump imposed new import taxes on specific goods from nearly all of America's trading partners. Key countries, especially China, responded with their own retaliatory tariffs. While many of the steepest tariffs have since been paused or reduced, the remaining duties continue to burden businesses.

Companies that buy products made abroad have to pay tariffs, and these extra costs are usually passed on to the consumer. President Trump claimed these new tariffs would bring manufacturing and money back to the US. However, because many products we buy rely on global supply chains, economists have warned for a long time that these widespread tariffs could lead to higher prices for everything from groceries to car repairs.

Many businesses and their customers are already facing this reality. Here are some major retailers that have recently announced price increases, or have warned of future increases, amidst the ongoing trade war:

Walmart announced on Thursday that they would need to raise prices due to increased costs from tariffs, joining the growing list of companies citing similar reasons.

While Walmart has taken steps to protect itself from some tariff risks, such as sourcing two-thirds of its products within the US, it's not completely unaffected. Company leaders have indicated that price increases started appearing on Walmart's shelves in late April and have accelerated this month. However, the full impact of these price increases will likely be more noticeable in June and July, as the back-to-school shopping season gets underway.

John David Rainey, the company's Chief Financial Officer, pointed out that the prices of many essential goods are increasing. He noted, for example, that the price of Costa Rican bananas has risen from 50 cents to 54 cents per pound. Furthermore, he predicted that the price of Chinese-made car seats, currently selling for $350 at Walmart, could increase by approximately $100.

Rainey told the Associated Press that while they were working to keep prices low, neither they nor any retailer could absorb the costs indefinitely.

Mattel, the company that makes Barbie dolls and Hot Wheels cars, announced earlier this month that they might have to raise prices to cover the costs of tariffs.

This toy manufacturer produces roughly 40% of its goods in China. They warned of price increases before May 5th, prior to the U.S. and China agreeing to temporarily reduce most high tariffs for 90 days. However, tariffs on Chinese goods remain higher than before President Trump initiated tariff increases last month.

In a recent earnings call, Mattel announced plans to move production of approximately 500 products from Chinese manufacturers to suppliers in other countries this year, a significant increase compared to the 280 products shifted last year; additionally, the company stated it would use factories in multiple countries for some of its popular items.

In early May, Microsoft increased the recommended retail prices of Xbox consoles and controllers worldwide; for example, the Xbox Series S now starts at $379.99 in the US, an $80 increase from its original 2020 launch price of $299.99, while the more powerful Xbox Series X is now priced at $599.99, a $100 increase from its previous price of $499.99.

Microsoft acknowledged the challenging nature of these changes in an Xbox support update on May 1st. While the tech giant didn't explicitly mention tariffs, it cited the broader market environment and rising development costs as contributing factors.

Besides the US, Microsoft has announced Xbox price changes in Europe, the UK, and Australia. The company also stated that local adjustments will be made in all other countries, and some of their new games are expected to be sold for $79.99 this holiday season due to price increases.

Last month, e-commerce giants Temu and Shein both announced price increases, citing "recent changes to global trade rules and tariffs" as the reason.

Prices for many goods started to rise at the end of April, a trend that became more noticeable after the 'de minimis rule' – a tax exemption on small-value Chinese imports that shopping sites had long benefited from – expired on May 2nd. Although some of the burden has been eased by trade between the US and China, these products are still subject to tariffs, with Chinese small parcels entering through the US postal service now facing a 54% duty (down from 120% previously).

Even before this temporary easing of regulations, Temu seemed to be moving away from shipping directly from China and focusing on its existing US stock. The retailer, owned by Chinese e-commerce giant PDD Holdings, continues to advertise many items from local warehouses to American consumers, emphasizing "no import taxes." Meanwhile, Shein, based in Singapore, now states on its checkout banner: "Duties are included in your payment. No additional costs will be charged upon delivery."

Stanley Black & Decker, a tool manufacturer, already raised prices in April and announced plans for further increases between July and September due to rising tariffs.

In a statement last month, CEO Donald Allan, Jr. said, "We are speeding up our supply chain adjustments and exploring all options to balance protecting our business with minimizing tariff burdens for our end users."

Procter & Gamble, a major consumer goods company with brands like Crest toothpaste, Tide detergent, and Charmin toilet paper, has warned that consumers may face higher prices. Despite efforts to reduce costs, such as changing suppliers to offset tariffs, P&G announced that price increases could begin as early as July.