U.S. Consumers Also Face Tariff-Driven Price Hikes... Even Walmart and Nike Affected

"P&G Also Plans to Raise Prices"

With the implementation of the United States' reciprocal tariffs against countries worldwide, American consumers are also expected to face price increases resulting from these tariffs.

According to the Washington Post (WP), manufacturers and retailers are expected to begin raising prices in earnest. This comes as the country-specific reciprocal tariffs imposed by President Donald Trump officially took effect at 12:01 a.m. Eastern Time on the 7th (1:01 p.m. Korean time on the 7th).

AP Yonhap News

Justin Wolfers, a professor of public policy and economics at the University of Michigan, stated, "Tariffs have shifted from being a temporary measure to a permanent one, and this changes how American companies respond." He predicted that companies would begin raising prices as soon as they are convinced the tariffs will remain in place.

WP reported that Walmart has already begun increasing prices on baby products, kitchenware, and toys, and that Nike is also raising prices on some items. Procter & Gamble (P&G), a consumer goods company that produces Tide detergent, Pampers diapers, and Oral-B toothbrushes, plans to raise prices on some products by 2.5% starting this month to offset $1 billion (about 1.4 trillion won) in tariff costs this year.

Alberto Cavallo, a professor at Harvard Business School, analyzed recent prices at the four largest U.S. retailers and found that since the Trump administration's initial tariffs earlier this year, prices on Chinese products have risen by about 4%. Professor Cavallo projected that the increase could reach about 10% by the end of the year.