Nearly half of companies are increasing prices or plan to do so in response to high tariffs being implemented by the Trump administration in the US and in response elsewhere, according to a new report by Mining Technology's parent company.
The most recent edition of GlobalData’s Tariffs Sentiment Polls survey, carried out across its network of B2B news websites, found that 39% of companies have already increased prices and that a further 10% intend to do so. Among the major companies that have already changed prices or intend to, the report notes Ford, Adidas, Walmart, P&G, Microsoft and Shein.
The survey also found that only 13% of respondents indicated that their companies do not intend to increase prices.
“For companies not increasing prices in 2025, reducing operational or production costs is the main strategy being used to manage rising expenses,” it outlines, with nearly half (45%) of companies not increasing prices in 2025 taking this course of action. A quarter (24%) of respondents indicated that they intend to negotiate with suppliers, and a fifth (21%) intend to absorb price increases.
Notably, well over a third (38%) of respondents expressed uncertainty about their company’s pricing strategies in relation to high tariffs – a figure up 1pp from the previous month’s survey.
“Many companies have delayed pricing decisions as they seek clarity on the trade regime,” the report explains. “With Trump’s new ‘reciprocal tariff’ numbers in effect as of August 1, this number will likely go down in the coming months.”
While many remain uncertain about how they will respond to high tariffs, respondents are overwhelmingly of the view that they will be negative to some extent (64%), that they will impact their business outlook negatively (60%) and, most of all, that they will drive up inflation (75%).
GlobalData’s report elaborates: “56% of respondents expect inflation to rise by over 5% due to high tariffs, indicating significant concern about their impact. This is one percentage point higher than our last report. Recent Silver Bulletin polls align with our findings regarding voter concerns about inflation, revealing inflation is the top issue for US voter unhappiness with the current president, with trade ranked second.”
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