Tariffs Spark Ripple Effect: 74% of Import-Reliant U.S. Companies Plan to Raise Prices, Survey Finds

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A recent survey conducted by ResumeTemplates.com reveals that nearly three-quarters of U.S. companies that depend on imports are planning to raise prices in response to the new tariffs announced by President Trump on April 2, 2025.

Of the 735 business leaders surveyed, 74% said they intend to increase prices, with a quarter of them implementing those changes immediately. An additional 42% expect to raise prices by the end of the second quarter, while 17% will hold off until the second half of the year.

But price hikes aren’t the only strategy companies are using to cope.

Internal Cuts and Restructuring Also on the Rise

Alongside passing costs on to consumers, many businesses are tightening internal budgets:

38% of companies plan to implement hiring freezes
33% are delaying employee raises or bonuses
27% expect to lay off staff
13% may cut salaries

“These actions indicate that companies are bracing for a long-term impact,” said a spokesperson for ResumeTemplates.com. “While tariffs aim to shift trade and manufacturing strategies, they’re also pushing companies to make tough choices internally.”

Industries Feeling the Heat

Industries most affected by the new tariffs include retail (84%), manufacturing (79%), and information technology (79%) — all reporting high likelihoods of raising prices. Companies importing goods from China (77%), Canada (76%), and Mexico (76%) are among those planning significant adjustments.

A Shift in Manufacturing: Reshoring on the Table

One intended goal of the tariff policy is to bring manufacturing jobs back to the U.S. And according to the survey, 18% of companies plan to reshore some of their operations. Industries leading this shift include:

Banking and financial services (36%)
Engineering (32%)
Computer software (24%)
Manufacturing (21%)
Information technology (19%)
Healthcare (15%)

Still, not all companies are aligning with that goal.

Offshoring Skilled Jobs on the Rise

In a move that contrasts the spirit of the tariff policy, 6% of companies say they plan to offshore skilled jobs to reduce costs. These include roles in IT support (32%), software development (20%), and customer service and tech support (20%).

Survey Methodology

The survey was conducted online between April 3 and April 7, 2025, and targeted U.S.-based leaders of companies that rely on imported goods. Participants had to meet specific demographic and professional screening criteria to ensure data accuracy.

For full results and insights, visit the complete report at ResumeTemplates.com.

About ResumeTemplates.com
ResumeTemplates.com offers a wide selection of free, professionally designed resume templates for job seekers across industries. The site also provides career resources, expert advice, and application tips to help users build standout resumes. Learn more at https://www.resumetemplates.com.

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