Procter & Gamble says that it will be raising prices on roughly a quarter of the products it sells across dozens of its brands, with the company partly blaming the increase on profit losses brought on by tariffs from the Trump administration. 

According to CNN, P&G CEO Jon Moeller said at a July 31 consumer conference that he expects the company to take a $1 billion hit to its profits from tariffs by the end of the 2026 fiscal year, nearly double P&G's original estimate from June. To offset those losses, the company — which owns 65 brands, including Tide, Charmin, Febreze, Pantene, Oral-B, Pampers and Old Spice — will institute mid-single-digit price increases on roughly 25% of its products starting in August. Although P&G produces an estimated 90% of its products domestically, it still imports raw ingredients and packaging materials from China for many of its staple offerings. 

P&G also saw its organic sales growth come in around 2% for the fiscal year that ended on June 30, marking its slowest year since 2018. In core markets outside the U.S. such as China, Japan, Canada and Western Europe, the company's sales grew by just 1%. In June, the company announced that it would be cutting around 6% of its workforce over the next two years as part of a sweeping restructuring initiative. 

In a May survey from insurance provider Allianz, more than half of American companies said that they planned to raise prices due to tariffs from the Trump administration. Since then, Nike, Walmart, Best Buy, Ford and Subaru have been among the many companies that have announced price increases to offset tariff-driven profit losses. Other companies such as Mars Inc., Kraft-Heinz, and Apple have announced plans to invest billions of dollars in domestic manufacturing. Although the White House's trade policies have largely been centered around bringing more manufacturing back to the U.S., a July 29 report from the Washington Center for Equitable Growth projected that tariffs could drive up the country's manufacturing costs by as much as 4.5%.