Bessent Misleading the American People on Price Hikes, Groundwork’s Owens Says

June 2, 2025

Bessent Misleading the American People on Price Hikes, Groundwork’s Owens Says

Yesterday, Treasury Secretary Scott Bessent falsely claimed that “there have been no price increases,” as a result of President Trump’s erratic trade policies.

Groundwork Collaborative’s Executive Director Lindsay Owens reacted with the following statement:

“Secretary Bessent can pretend prices aren’t going up, but American consumers literally have the receipts. From big purchases like cars and air conditioners to everyday needs like sneakers, strollers, and summer clothing, prices are climbing and retailers are telling us more hikes are coming. The Trump administration clearly has no plan to bring down costs if they can’t even admit they’re going up. Between chaotic tariffs and their plan to force working families to pay for billionaire tax cuts, consumers should brace for higher prices in the days and weeks to come.”

BACKGROUND

CEOs are warning of higher prices as a result of President Trump’s tariffs policy.
- Walmart CEO Doug McMillon said on the company’s first quarter earnings call: “Even at the reduced levels, the higher tariffs will result in higher prices.” Walmart employees have recently posted photos highlighting significant price hikes, with some items increasing by as much as 45%.
- Adidas CEO stated “Since we currently cannot produce almost any of our products in the U.S., these higher tariffs will eventually cause higher costs for all our products for the U.S. market.”
- Nike intends to raise prices of apparel and equipment for adults by an increase ranging from $2 and $10.
- Volvo Cars CEO Hakan Samuelsson stated that its customers must pay for rising tariffs.
- Baby List CEO Natalie Gordon sounded the alarm in a full-page ad in the Washington Post and warned tariffs amount to a baby tax: “Manufacturers are, on a day-to-day basis, dealing with the shock of tariffs on products and are very willing to invest in supply chains…but it takes time and investment.” She added that she believes the tariffs amount to a “baby tax on every parent across the country.”
Baby items: With imports accounting for roughly 90% of durable baby and children’s products in the U.S., new parents are already paying hundreds of dollars more for essentials like strollers, cat seats, high chairs, cribs, clothes and toys. For example:
- Car seats: UPPAbaby, a major manufacturer of car seats and strollers, announced increased prices across most of its products beginning May 5. Nuna has increased prices by $50, and Evenflo has increased prices by 10-40%.
- Strollers: UPPAbaby’s popular Vista stroller just increased from $900 to $1,200. Or, for a cheaper option, Bombi’s flagship stroller now costs $225 instead of $199.
- High Chairs & Sippy Cups: The CEO of popular baby accessory brand Munchkin, Steve Dunn, said the company will increase prices on about 90% of products, likely by at least 20%. Their cheapest high chair is currently $170.