Higher prices for a lot of popular products seem inevitable on our current trajectory. James Martin/CNET
In a lot of ways and for a lot of products in the US, the biggest impacts of President Donald Trump's aggressive tariff plans are still a ways off in the near future. Still, numerous companies have already hiked prices or said that they will be increased in the near future -- including, most recently, a popular and CNET-approved brand of smart lights.
The fact of the matter is that tariffs -- a tax placed on the importing of certain products into a country -- will ultimately cause prices to go up, with Walmart characterizing these eventual price hikes as "inevitable" during its earnings call last month. Given Trump's push to place historically high tariffs on goods from almost every country in the world, you can also expect these price hikes to hit a huge variety of products.
This truth has begun to sink in for a lot of Americans, if a recent survey conducted by CNET is anything to go by. According to the results, about 38% of consumers feel pressured to make certain purchases before tariffs cause them to go up in price. About 10% said that they had already made certain purchases out of the hope that they'll avoid a future price hike, and 27% said they had delayed purchases for products that cost more than $500. Overall, these concerns about prices were felt the most around popular tech pieces like smartphones, laptops and home appliances.
To help you keep score, I've put together a list of all the companies that have either confirmed or warned of price hikes due to Trump's tariffs. As other companies make such announcements, you can expect new names to be added here.
Continue on for all those details, and for more, find out why it's best if you wait on buying a new iPhone.
Best Buy
Without getting into specifics, Best Buy CEO Corie Barry told the Wall Street Journal late last month that it has already raised prices on certain products as part of its response to the tariffs.
e.l.f.
Known as an affordable option in the beauty world, e.l.f. announced in late May that it would be implementing a $1 price hike across its product line in response to the tariffs. CEO Tarang Amin claimed that the reaction from customers was positive, on account of the company's transparency.
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