People are sharing their receipts as Trump’s

Donald Trump’s recent tariff hikes are hitting U.S. businesses hard, with many companies warning of rising costs and potential price increases for consumers. The tariffs, introduced in April, target imports from numerous countries — bizarrely including the remote Heard Island and McDonald Islands. Walmart has already warned it may have to raise prices, citing the narrow margins in retail that make it difficult to absorb these new costs. CEO Douglas McMillon said the company will try to keep prices low but cannot fully offset the impact of the tariffs.

Tech companies have also voiced concerns. Wyze Cam reported paying \$255,000 in tariffs to import \$167,000 worth of goods. GlytchTech and Adafruit Industries posted similar complaints, showing tariffs exceeding the value of their imports. Adafruit noted the financial strain caused by upfront tariff payments, contrasting them with taxes like income or sales tax. Since many products were manufactured before the tariff changes, firms have limited flexibility. Some are considering reclassification of items to reduce fees, but success is uncertain and slow. Meanwhile, consumers are seeing higher prices already — one user claimed a \$300 gadget now costs \$1,500 due to the tariffs.