The post Hermès raises U.S. prices on bags and scarves due to Trump’s tariffs on China appeared on BitcoinEthereumNews.com.

Hermès is raising the prices of its handbags and scarves in the United States starting May 1, blaming the decision on President Donald Trump’s tariffs on Chinese goods, according to CNBC. The company’s finance chief Eric du Halgouët confirmed the hike during an analyst call on Thursday, saying the increase only affects American shoppers. There will be no price changes in Europe or Asia. The tariffs triggering this are the 10% universal duties imposed by the White House in early April. Eric said, “The price increase that we’re going to implement will be just for the U.S. since it’s aimed at offsetting the tariffs that only apply to the American market, so there won’t be price increases in the other regions.” That means people in New York and Los Angeles will pay more for the same Birkin bags that someone in Paris or Tokyo can buy at the old rate. The move comes as the luxury brand tries to fully absorb the financial blow caused by Washington’s new import duties. The new 10% tariff is already affecting a broad range of goods—electronics, clothing, vehicles, and even real estate. So it’s no surprise that luxury items like handbags and scarves are getting pulled into the mess too. And unlike the European Union, which got a 90-day delay to negotiate better trade terms, the U.S. got hit with the full cost immediately. That’s why Hermès is acting now. Hermès slows down while LVMH stumbles Sales for Hermès in the Americas grew 11% in the first quarter, bringing in about 17% of the company’s total revenue from January to March. But the full global growth came in at only 7%, missing the expected range of 8% to 9%, as noted by Deutsche Bank analysts. In comparison, the company’s Q4 2024 growth had hit…

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Filed under: News - @ April 17, 2025 5:26 pm