Ongoing tariffs and inconsistent trade actions are making businesses worldwide anxious. In the US, several large retailers have already warned about raising prices or the possibility of future increases.

In recent months, President Donald Trump has introduced new import taxes on goods from almost all of the United States' trading partners and specific industries. At the same time, some countries, especially China, have responded with their own retaliatory tariffs. Although many of the sharpest tariff increases have since been paused or reduced, numerous other tax burdens continue to accumulate for businesses.

This happens because companies that buy goods from other countries have to pay taxes called tariffs. Usually, they then increase prices for customers to cover these costs. Trump believes that new tariffs will bring manufacturing and money back to the U.S. However, many products we buy today rely on global supply chains. Because of this, economists have warned for a long time that using tariffs widely could make prices go up for everything, from food to car repairs.

Many companies, and their customers, are already dealing with this situation. Here are some examples of large retailers that have recently, or plan to soon, increase prices due to the ongoing trade war.

On Thursday, Walmart became the latest addition to this list, announcing that rising costs due to tariffs would force them to increase prices.

While Walmart reduces some tariff risks by sourcing around two-thirds of its products in the US, they aren't completely protected. Company executives report that higher-priced goods started appearing on Walmart shelves in late April, and this trend is increasing this month. However, the most significant impact is expected in June and July, as the back-to-school shopping season begins.

John David Rainey, the company's Chief Financial Officer, pointed out that the prices of many essential goods are increasing. For example, bananas imported from Costa Rica have risen from 50 to 54 cents per pound. Additionally, child seats made in China, currently selling for $350 at Walmart, are expected to increase by another $100.

Rainey told the Associated Press that they were trying to keep prices low, but every retailer has its limits.

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

The company makes 40% of its products in China. They warned about price increases before the US and China agreed to temporarily freeze most tariffs for 90 days. This agreement was made on May 5th, before tariffs increased rapidly. However, tariff levels are still higher than before President Trump started raising them.

In their latest earnings call, Mattel announced plans to move production of approximately 500 products from Chinese manufacturers to sources in other countries this year, a step up from the 280 products moved last year; they also intend to use factories in multiple countries to produce some of their most popular toys.

In early May, Microsoft increased the recommended retail prices of Xbox consoles and controllers worldwide; for example, the Xbox Series S in the US now costs $379.99, an $80 increase from its 2020 launch price of $299.99, while the more powerful Xbox Series X has risen by $100 from $499.99 to $599.99.

Microsoft noted in an Xbox support update on May 1st that they understand these changes are difficult, citing broader market conditions and rising development costs, though they didn't specifically mention tariffs.

Outside the US, Microsoft has also changed Xbox prices in Europe, the UK, and Australia, making local adjustments in other countries as well; furthermore, some new games made by Microsoft themselves are expected to increase in price to $79.99 this holiday season.

Last month, major online retailers Temu and Shein both announced price increases, citing recent changes in global trade rules and tariffs as the reason, although their announcements were worded differently.

From late April, the prices of many products started to increase, especially before May 2nd. This was when the de minimis rule, which had allowed shopping sites to avoid taxes on cheap imports from China for many years, was due to end. Although a recent agreement between the US and China has reduced some costs, these products still have tariffs. The number of small, low-value packages from China entering the US through the postal service has decreased from 120% to 54%.

Even before this temporary action, Temu seemed to be moving away from shipping directly from China and relying more on its existing stock within the US. Temu, owned by the Chinese e-commerce company PDD Holdings, offers many items to American customers from local warehouses, advertising "no import fees." Meanwhile, Shein, based in Singapore, tells customers at checkout that "duties are already paid, and there will be no extra charges upon delivery."

Stanley Black & Decker, a tool manufacturer, had already increased prices in April and has announced plans to raise them again between July and September due to rising tariffs.

In a statement last month, CEO Donald Alan Jr. said that they are quickly changing their supply chains and looking at all possible options to protect the business, while also trying to reduce the impact of tariffs on customers.

Procter & Gamble, a major consumer goods company known for brands like Crest toothpaste and Tide detergent, has also stated that they will likely have to raise prices for consumers soon. Although P&G announced last month they were taking steps to reduce costs, such as changing suppliers, consumers could still see price increases as early as July.