• Trump’s tariff push is finally hitting American consumers months after he told retailers to “eat the costs.”
• Major companies including Sony, Fujifilm and Home Depot are raising prices after months of holding back.
• Economists warn consumers could soon bear nearly 70 percent of tariff costs as food prices surge nationwide.

WASHINGTON, D.C. (TDR) — President Donald Trump’s April announcement of steep new tariffs on imports set off immediate waves of speculation and worry. For months, businesses largely absorbed the costs. But as summer turns to fall, the relief is over — and Americans are starting to feel the pinch.

Trump’s Warning to Walmart

When Walmart first hinted in May that it would raise prices to cover the tariffs, Trump snapped back.

“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” he wrote on Truth Social. “Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”

For a time, that strong-arming worked. Walmart and other retailers held the line. But economists warned then that the strategy was unsustainable, and now it is unraveling.

Big Names Begin Price Hikes

This week, Sony confirmed PlayStation 5 consoles will rise $50 in the U.S., effective immediately. While the company avoided directly citing tariffs, it pointed to “challenging economic conditions” — a clear signal to analysts.

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Fujifilm has already announced price increases on cameras and lenses, some climbing as much as $800, explicitly blaming tariff costs. Home Depot, too, said it will raise prices across select categories after higher-than-expected tariff rates shocked executives.

“Obviously tariff rates are significantly higher today than they were when we spoke in May,” said Billy Bastek, Home Depot’s executive vice president of merchandising, during an earnings call.

Consumers Begin to Shoulder the Burden

American companies absorbed over half of tariff costs through June, according to Goldman Sachs analysis. Consumers carried just 22 percent. That number, economists say, will soon soar to 67 percent.

Beth Hammack, president of the Federal Reserve Bank of Cleveland, told CBS News: “Margins are getting squeezed, and businesses have no choice but to start passing costs on to consumers.”

Wholesale prices already rose last month at the fastest pace in three years. Economists warn it is only the beginning.

The Grocery Store Squeeze

Nowhere is the pinch more visible than in grocery aisles. The Bureau of Labor Statistics reported a 38 percent surge in wholesale vegetable prices in July. Weather and supply chain issues play a role, but tariffs have amplified the problem.

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Meat prices are also soaring. Beef and veal rose 11.3 percent in July compared with last year — nearly four times higher than any other food category.

Compounding the crisis is the Trump administration’s crackdown on immigration, which has left farms across California short of workers. “A lot of the product is being lost because there’s nobody to work,” one produce store owner told local media. “So the product that has been picked has been raised maybe 35 to 40 percent.”

Economic Uncertainty Ahead

Businesses are bracing for more turbulence. Nearly 1 in 3 say they expect to charge higher prices within six months, according to a recent business confidence survey.

“Tariffs are likely playing a significant role in these concerns, but so is the overall sense of uncertainty,” said Matt Schulz, chief analyst at LendingTree. “It’s nearly impossible to predict what the next few weeks will look like, much less six months from now.”

A Bright Spot for Fast Food Fans

In the midst of rising costs, one unlikely break is coming: cheaper Big Macs. Beginning next month, McDonald’s and its franchisees will roll out an Extra Value Meal revival. Breakfast combos and the iconic Big Mac meal will be reduced to $5 and $8 respectively, down from eye-watering highs — including a Connecticut rest stop charging $18 earlier this summer.

The promotion, insiders say, is designed to win back budget-conscious diners in an economy where sticker shock dominates.

The Larger Picture

Tariffs, worker shortages, weather, and global instability all converge to form an economic storm. And while Trump insists tariffs protect American industry, the cumulative effects now risk reshaping everyday consumer habits.

The question is no longer whether tariffs will hit wallets — but how deep the cut will go.

Will Americans accept short-term pain for Trump’s long-term tariff strategy, or will rising prices erode political patience?

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