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Trump’s retaliatory tariffs are driving up clothing prices: H&M CEO
Daniel Arveer, CEO of H&M Group, one of the world’s largest clothing brands, said that US President Donald Trump’s retaliatory tariffs on imported goods are starting to have an impact. This is increasing the price of clothing in the United States. The Guardian reports.
Trump’s retaliatory tariffs are driving up clothing prices: H&M CEO
Daniel Arveer said, “We can see that some companies in the United States have already started to raise prices. Some are raising prices aggressively; others are moving slowly.”
Arveer said it is still uncertain how the market situation will change after Trump’s retaliatory tariffs take full effect. He said that the situation is changing rapidly. The Trump administration has changed the rules several times. Even so, H&M is trying to remain very competitive in terms of product prices, modernity of fashion and sustainable environmentally friendly products.

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Clothing prices are rising due to Trump’s retaliatory tariffs: H&M CEO
Own Reporter
Updated: 27 June 2025, 17:33
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H&M store photo: Reuters
Daniel Arveer, CEO of H&M Group, one of the world’s largest clothing brands, said that US President Donald Trump’s retaliatory tariffs on imported goods are starting to have an impact. This is causing clothing prices to rise in the United States. News from The Guardian.
Daniel Arveer said, “We can see that some companies in the United States have already started raising prices.” Some are raising prices aggressively; others are moving slowly.
It is still uncertain how the market situation will change after Trump’s counter-tariffs take full effect, said Arveer. The situation is changing rapidly, he said. The Trump administration has changed the rules several times. Still, H&M is trying to remain very competitive in terms of product prices, fashion innovation and sustainable environmental products.

H&M Group Chief Executive Officer (CEO) Daniel ArveerPhoto: H&M website
The CEO of the Swedish brand also said that there is pressure to keep product prices low despite the increase in salaries, taxes and other costs for employees. “People are spending very carefully due to global instability and increased household spending. Customers are now very price-sensitive,” he said.
H&M said it may offer more discounts in the coming months than last year. Because many brands are now reducing prices to encourage shoppers who are uncertain.
H&M has announced that it will close 200 of its 4,200 retail stores by this year (2025). However, it plans to open 80 new stores at the same time.
