Higher prices are on the way for some staple items like Pampers diapers, Tide detergent and Bounty paper towels, originally reported by our news partner WCPO.
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Procter & Gamble Co. said that tariffs will add up to $1.5 billion to its annual costs, leading to price hikes in the second half of the year, WCPO says. They expect prices to increase by 1-2 percent, on average.
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The company has said that they are looking into cost savings through productivity improvements and supply chain changes, according to WCPO.
P&G materials used in packaging and finished goods imported to the US from China will see the largest impacts from tariffs. US to Canada exports are also going to have higher costs related to tariffs, WCPO says.
The company says changes in consumer habits could also have an impact.
P&G’s third-quarter performance is down, and their shares are down 7 percent. The company has fallen short of Wall Street’s expectations and has lowered their profit projections for 2025, WCPO says.
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