Nike and GM say Trump tariffs have cost them $1B each — and consumers are expected to cover those losses. Here’s how Americans can avoid price hikes

Photo credit: Omotayo Samuel via Pexels. Article by Rebecca Holland. Moneywise – updated August 14, 2025.

While some U.S. companies are taking the President’s advice to “eat the cost” of the tariffs, forecasters doubt that corporations will want to keep on sacrificing profits for much longer. In July, General Motors reported that they lost more than $1.1 billion in order to absorb tariff costs. On the other hand, Nike is planning price hikes to offset their projected increased costs of $1 billion due to tariffs on their offshore production. Most other retailers are also planning on passing off the new cost of doing business to their consumers. Coupled with this, the dollar is taking a hit. […]

Click here to view original web page at www.moneywise.com

Video: Small US Firms Paying Trump Tariffs Face $202 Billion Annual Hit – Bloomberg Podcasts

Related articles:

Small Business Owner Wonders If Tariffs Bring In Billions A Month Why Is Washington Still Asking for ‘Gifts’ Instead Of Paying Down The Debt? – Benzinga

US prices continued rise in July as Trump tariffs impact consumer costs – The Guardian

Small US Firms Paying Trump Tariffs Face a $202 Billion Hit – Yahoo! Finance

For America’s 35M small businesses, tariff uncertainty hits especially hard – The Conversation

Tariff-driven price hikes may be hidden by products stuck in ‘the middle mile’ – CNBC