Hermès confirms plans to hike prices on its $10,000 bags in response to U.S. tariffs

Hermès will sell its bags and scarves at a higher price in the U.S. than in other parts of the world in response to President Donald Trump’s tariffs. 

The French company, which had long resisted the sector-wide slowdown and became the most valuable luxury company ahead of LVMH earlier this week, said it plans to pass the additional costs from tariffs to its affluent customers. 

This will apply in addition to Hermès’s planned price hike of 6-7% this year. Its bags comfortably cost over $10,000...