Companies Prepare for Price Increases Due to Trump's Proposed Tariffs
• President-elect Donald Trump's proposed tariffs are causing concern among businesses, with many preparing for price increases to safeguard their profits.
• AutoZone CEO Philip Daniele stated that the company will pass on tariff costs to consumers, anticipating the impact on its margins.
• Other companies, such as Steve Madden and Columbia Sportswear, are also considering price hikes due to increased expenses from tariffs and supply chain changes.
The*National Retail Federation*expressed similar views, describing the tariffs as “a tax on American families” and warning that the cost of daily goods like furniture, shoes and clothes might rise sharply.
According to their research, a $90 pair of sneakers might cost $106-116 and a $100 coat could cost up to $21 more. Footwear companies, in particular, are worried – since nearly 99% of all shoes sold in the U.S. are made abroad, it will be tough to move production to the U.S. anytime soon.
• President-elect Donald Trump's proposed tariffs are causing concern among businesses, with many preparing for price increases to safeguard their profits.
• AutoZone CEO Philip Daniele stated that the company will pass on tariff costs to consumers, anticipating the impact on its margins.
• Other companies, such as Steve Madden and Columbia Sportswear, are also considering price hikes due to increased expenses from tariffs and supply chain changes.
The*National Retail Federation*expressed similar views, describing the tariffs as “a tax on American families” and warning that the cost of daily goods like furniture, shoes and clothes might rise sharply.
According to their research, a $90 pair of sneakers might cost $106-116 and a $100 coat could cost up to $21 more. Footwear companies, in particular, are worried – since nearly 99% of all shoes sold in the U.S. are made abroad, it will be tough to move production to the U.S. anytime soon.