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Trump Tariffs Fuel Price Hikes

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HEADLINE: Trump’s Tariffs Trigger Price Hike Warnings: Macy’s, Shein, Ford, and More Announce Increases

LEDE: Get ready to pay more at the checkout. Major companies, from Macy’s to ford, are signaling price increases in response to President Trump’s latest tariffs. Economists warn this is just the beginning, with potential impacts across a wide range of goods.

BODY:
Tariffs Take Hold: President Trump’s “Liberation Day” tariffs, including a baseline 10% on most imports and “reciprocal” tariffs, are already impacting businesses. While some tariffs have been adjusted (like those on Chinese goods after a recent deal), the overall uncertainty is driving prices up.

Macy’s Cautious Approach: The department store chain is strategically raising prices on select items to offset tariff costs.CEO Tony Spring emphasized a “cautious approach,” while CFO Adrian Mitchell noted “surgical” price increases in specific brands and categories. This comes as Macy’s plans to shutter 150 underperforming stores. shein & Temu’s “Final Days”: Fast-fashion giant Shein and online marketplace Temu both alerted customers to price hikes effective April 25th, blaming “recent changes in global trade rules and tariffs.” The retailers are among those most impacted by the crackdown on the de minimis loophole.

Ford Braces for Impact: The automaker is planning price increases on gas and electric cars starting in May unless tariff relief arrives.Trump has hinted at temporary exemptions for autos but has not yet implemented a broad solution.

Conagra feels the squeeze: The maker of Hunt’s and Chef Boyardee is considering price hikes due to tariffs on key ingredients like cocoa, olive oil, palm oil, and steel used in canned goods. CEO Sean Connolly called the trade situation “volatile.”

Volkswagen Adjusts: VW will implement import fees in response to Trump’s 25% tariff on car imports.

Retailers Sound the Alarm: best Buy CEO Corie Barry warned that tariffs will likely be passed on to consumers across the electronics industry. Target CEO Brian Cornell anticipates higher produce prices due to tariffs on goods from Mexico and Canada.

Stanley Black & Decker’s offset Strategy: The manufacturing company is planning to offset impact through pricing actions.

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