Washington, DC – Less than a week after House Republicans voted to keep President Trump’s tariffs in place, new reporting by The Wall Street Journal shows that prices are continuing to rise thanks to the tariffs. The report shows how companies nationwide are preparing for a new round of price increases, as businesses and consumers alike grapple with higher costs from Republican-backed tariffs.
According to the report:
- More than half of small business leaders plan to increase their prices over the next few months.
- Of those, nearly 70 percent plan price hikes of 4 to 10 percent, while another 10 percent anticipate increases exceeding 10 percent.
- Online prices jumped in January, representing the largest monthly increase in more than a decade, with costs rising for electronics, computers, appliances, furniture, and bedding.
- Prices on the most affordable imported goods have risen 2.3% since November.
- Columbia Sportswear is raising prices on spring and fall apparel.
- Levi Strauss is increasing prices due to tariffs, including on jeans.
- Spice maker McCormick & Co. reported $70 million in tariff-related costs last year—and expects another $50 million this year, driving additional price increases this month.
The Wall Street Journal’s reporting comes just days after a new analysis showed that tariffs directly cost the average American household $1,000 in 2025, and are projected to cost $1,300 this year. Despite this, nearly every House Republican voted last week to keep President Trump’s Canadian tariffs in place, doubling down on a policy that is raising costs for working Americans nationwide in order to give tax breaks to billionaires and big corporations.
“Americans are once again bracing for higher costs thanks to Republican-backed tariffs. Republicans in Congress have the power to end these cost-raising policies, but instead are voting to rubber stamp them and put more strain on their constituents,” said Unrig Our Economy Campaign Director Leor Tal. “From pushing for the largest cuts to health care in history, to backing tariffs that raise the price of everyday goods for Americans, Republicans in Congress have made life less affordable for their constituents at every turn – all while giving billionaires massive tax breaks.”
To learn more about the campaign, visit UnrigOurEconomy.com or contact press@unrigoureconomy.com
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About Unrig Our Economy
Unrig Our Economy is a national campaign to fix the rules of our economy to make it work for working people. We know that when the middle class does well, all of us do well — which is why we’re fighting on behalf of working Americans and holding corporations, their wealthy executives, and the politicians who enable them accountable.