ADVERTISEMENT
ADVERTISEMENT

These popular brands say Trump's tariffs are forcing them to raise prices

Coca-Cola, General Motors, and Winnebago are among the companies who say they will be forced to raise prices because of Trump's taxes on foreign imports. Analysts say Trump's additional proposed tariffs on Chinese goods would be bad news for the retail sector.

  • Several companies have either already raised their prices or say they plan to as a result of the tariffs
  • On Friday, Trump

President Donald Trump's tariffs are leading to higher import costs for US-based companies, and it's American consumers who are likely to bear the burden.

While the White House has pointed to national security issues as justification for the tariffs, there's also a practical economic component to Trump's duties. The tariffs on foreign imports such as washing machines, steel, and aluminum are designed to make foreign goods more expensive and therefore US manufacturers more appealing.

Since these tariffs have been in place, several US companies including Coca-Cola and Winnebago have said they have been forced to raise prices on the consumer's side. Others are threatening to follow suit.

ADVERTISEMENT

was up 17%

Here's a list of some of the best-known brands that have spoken out about the new tariffs and either raised prices already or say they plan to:

Coca-Cola

Coca-Cola said on July 27 it would be raising the price of its sodas in the middle of the year.

Quincey cited steel and aluminum tariffs announced by Trump earlier this year as one of the causes of increased costs, but did not specify how high the price increase would be.

ADVERTISEMENT

Winnebago

Happe did not confirm how high the prices increases were.

The company has also made changes to the design of the RV to trim costs.

Polaris Industries

ADVERTISEMENT

Scott Wine, CEO of Polaris, a company that makes motorcycles, quad bikes, and snowmobiles, said in a recent TV news conference after the release of its second-quarter earnings that the company had raised prices on some items impacted by tariffs, such as motorcycles.

The company is looking to move production of motorcycles that it sells in Europe from Iowa to Poland to avoid being stung by EU tariffs on US products, The Wall Street Journal reported.

Whirpool washing machines

In a call with investors in July, Whirlpool CEO

General Motors

ADVERTISEMENT

In June, carmaker General Motors submitted a letter to the US Commerce Department urging the president to abandon the plan for auto tariffs, saying that they would lead to price increases of thousands of dollars, The Financial Times reported.

"At some point, this tariff impact will be felt by customers. Based on historical experience, if cost is passed on to the consumer via higher vehicle prices, demand for new vehicles could be impacted," the letter said.

LG Electronics washing machines

In January, LG Electronics said it would raise the prices of washing machines by 4-8% in March, Reuters reported.

This works out to about $50 more per machine, a spokesperson for the company told Reuters.

ADVERTISEMENT

MillerCoors

CEO of MillerCoors, the maker of Coors Lite and Miller Lite, told Bloomberg in June that it may have to look at raising prices on the consumer's side.

Samuel Adams — The Boston Beer Company

Campbell Soup

During a call with investors in May, CFO Anthony DiSilvestro said that US tariffs on steel and aluminum were likely to put pressure on the company's margins, and it's expecting them to be down in fiscal 2019.

ADVERTISEMENT

Toyota

The Japanese company told Bloomberg in June that the 25% tariff "is just a tax on consumers," adding that it would pass the additional costs on to the consumer, which would lead to an increase in the cost of all of its vehicles sold in the US.

Newell Brands

During an earnings call in August, the CEO of Newell Brands — the

Kleenex and Huggies

ADVERTISEMENT

On August 15, Kimberly-Clark, the parent company of Huggies and Kleenex, announced it would be raising prices in the "

"When you have a commodity impact as large and significant as it is right now, I think our customers understand that. And we do have to recover and improve our net revenue realization. And so we are going to take the appropriate actions," he said in July, CNBC reported.

Jack Daniel's

Brown-Forman, the company behind Jack Daniel's, Finlandia Vodka, and several other liquor and spirit labels will raise its prices by the end of the year, its CFO, Jane Morreau, told investors in August.

The alcoholic drinks maker is expecting tariffs to cut its full-year profits by 6%.

ADVERTISEMENT

US whiskey and bourbon are some of the products which are facing import duties from the

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

ADVERTISEMENT
ADVERTISEMENT