XPost: misc.taxes, talk.politics.guns, sac.politics   
   XPost: talk.politics.misc, alt.fan.rush-limbaugh   
   From: democrat-insurrection@mail.house.gov   
      
   https://abcnews.go.com/Business/companies-raising-prices-response-trumps-   
   tariffs/story?id=120900637   
      
   President Donald Trump this month slapped tariffs on most products that   
   enter the United States. Economists widely expect the policy to raise   
   prices for U.S. shoppers as importers pass along a share of the tax   
   burden.   
      
   An across-the-board 10% tariff applies to nearly all imports, except for   
   semi-conductors, pharmaceuticals and some other items. Those levies come   
   on top of specialized tariffs on steel, aluminum and autos. China, the   
   third-largest U.S. trading partner, faces cumulative tariffs of a whopping   
   145%.   
      
   Plans for price hikes have already taken shape at an array of companies,   
   ranging from fast-fashion retailer Shein to luxury sports car manufacturer   
   Ferrari.   
      
   Here are the companies that have announced price increases as a result of   
   Trump's tariffs:   
      
   Shein and Temu   
   A pair of China-based e-commerce companies, Shein and Temu, released   
   identical statements earlier this month announcing plans to increase   
   prices in response to Trump's tariffs. The price hikes will take effect on   
   April 25, the companies said.   
      
   "Due to recent changes in global trade rules and tariffs, our operating   
   expenses have gone up," the statements said. "To keep offering the   
   products you love without compromising on quality, we will be making price   
   adjustments."   
      
   When Trump announced so-called "Liberation Day" tariffs on April 2, he   
   also closed what's known as the "de minimis" loophole, which allowed for   
   duty-free import of goods valued at less than $800. The low-cost shipping   
   had helped fuel bargain shopping online for products made in China.   
      
   Nintendo   
   Nintendo, the Japan-based video game giant, announced on Friday the start   
   date of preorders for its highly anticipated Switch 2, saying the price   
   would remain at the level announced on April 2.   
      
   The bulletin came with a caveat, however. "Nintendo Switch 2 accessories   
   will experience price adjustments from those announced on April 2 due to   
   changes in market conditions," the company said.   
      
   "Other adjustments to the price of any Nintendo product are also possible   
   in the future depending on market conditions," added Nintendo, which hosts   
   much of its manufacturing in China.   
      
   The Trump administration last week issued a tariff exemption for China-   
   made smartphones, computers, flat panel TV displays and other electronics.   
   The list left out video game systems, meaning they would remain subject to   
   145% tariffs on Chinese goods.   
      
   Best Buy   
   Best Buy CEO Corie Barry told analysts to expect price increases as a   
   result of higher tariffs.   
      
   "Tariffs at this level will result in price increases," Barry said on an   
   earnings call in March, before Trump escalated tariffs a month later. "I   
   think it is very difficult to say, given the backdrop that we're in,   
   exactly, precisely how big that is."   
      
   Best Buy relies on a global supply chain, Barry added, noting the   
   company's top two sources of goods are Mexico and China. Both of those   
   countries continue to be targeted by Trump's tariffs.   
      
   Hermès   
   French luxury goods manufacturer Hermès plans to raise prices for U.S.   
   customers on May 1, a company executive said on an earnings call Thursday.   
      
   "The price increase that we're going to implement will be just for the   
   U.S. since it's aimed at offsetting the tariffs that only apply to the   
   American market, so there won't be price increases in the other regions,"   
   Eric du Halgouët, Hermès' executive vice president for finance, told   
   analysts.   
      
   The price hikes intend to "fully offset" the across-the-board 10% tariff   
   issued by Trump earlier this month, the company said.   
      
   Trump issued a 90-day pause of additional 20% tariffs on goods from the   
   European Union as a part of a wider suspension of so-called "reciprocal   
   tariffs."   
      
   AutoZone and Ferrari   
   AutoZone CEO Philip Daniele, who runs the Memphis-based car parts   
   retailer, told analysts in September the company would respond to tariffs   
   with price increases.   
      
   "We will pass those tariff costs back to the consumer," Daniele said on an   
   earnings call.   
      
   AutoZone did not immediately respond to ABC News' request for comment   
   regarding its current plans for price increases.   
      
   Trump last month announced 25% auto tariffs, which apply to both vehicles   
   and car parts.   
      
   Within hours of the policy rollout, Ferrari said it would raise prices by   
   as much as 10% for some models to compensate for the tax burden.   
      
      
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   Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden   
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