In a notable shift, global companies have significantly reduced their announcements of price hikes in the third quarter of 2025, as clarity on long-term tariff strategies begins to emerge. According to a Reuters analysis of corporate earnings calls and statements, only 28 companies explicitly mentioned raising prices, a sharp decline from 51 in the second quarter and nearly 90 in the first quarter. This trend reflects a cautious approach by businesses navigating the complexities of U.S. trade policies and consumer spending slowdowns. The reduction in tariff-related price hikes coincides with new trade deals that have alleviated some of the financial pressures caused by the Trump-era trade war, which had driven U.S. import tariffs to their highest levels since the 1930s. Market intelligence platform AlphaSense reported a 68% drop in mentions of tariff-related price increases between the first and third quarters. Companies like Walmart have shifted focus to price cuts and discounts to attract cash-strapped consumers, particularly as the holiday shopping season approaches. Retailers and fast-food chains, including Target, McDonald’s, and Yum Brands, have introduced cheaper meal bundles and limited-time offers to counter declining demand among lower-income households. Meanwhile, industrial and consumer sectors have led pricing actions, with many firms absorbing tariff costs or sharing the burden with suppliers. Companies such as Rockwell Automation and Fictiv emphasize the importance of understanding the long-term tariff strategy before making significant pricing adjustments. This cautious approach highlights the ongoing uncertainty in global trade and the delicate balance businesses must strike between maintaining competitiveness and managing costs.