Retailers and Brands Have Held Off on Price Hikes — But That Might Be About to Change

Americans haven’t yet felt the full impact of Trump’s steep tariffs — but brands are signaling that could be about to change. According to WSJ, retailers have kept prices stable by rushing to import goods early, hoping surplus inventory would help them ride out the unpopular policy. But Americans’ fear-buying has put the “status quo” on notice.

• Large retailers like WalmartWMT
  , TargetTGT
  , and Home DepotHD
  all reportedly “warned” President Trump about higher prices and empty shelves.
• Meanwhile, several publicly traded firms have announced price hikes in response to tariffs, including AdidasADDYY
  , HermèsHESAY
  , and MicronMU
  .

And it’s just getting started: Americans could soon face higher prices in all facets of life — and they’re bracing for it, with the latest University of Michigan Consumer Confidence report showing expectations for inflation to skyrocket to levels not seen since 1981. That’s an understandable reaction, given the market’s response to the policies, small businesses already implementing surcharges, and domestic staples like Coca-ColaKO

and Kraft HeinzKHC

issuing pricing warnings. But as tariffed goods finally enter the US, we’ll likely get a clearer picture of the policy’s real impact — and what it means for businesses and consumers alike.