News Summary
Rhode Island’s manufacturers are responding to recent tariffs by adjusting their prices, as revealed in a survey by Polaris MEP. A significant 78.3% of those surveyed indicated plans to modify their pricing strategies due to rising costs from imposed tariffs. Publicly traded companies in the state have shown varied stock performance, with some like CVS Health and Citizens Bank seeing gains, while others like Bally’s and AstroNova faced declines. The economic landscape remains uncertain as manufacturers adapt to these new challenges.
Rhode Island manufacturers are preparing for significant price adjustments in light of recent tariffs imposed by the Trump administration. According to a recent survey conducted by Polaris MEP, a substantial 78.3% of nearly 100 manufacturers in the state have indicated plans to either adjust or have already adjusted their prices as a direct response to the evolving economic landscape created by these tariffs.
The survey highlights that the majority of these manufacturers are experiencing negative repercussions on their financial performance, particularly relating to bottom lines and the costs of goods sold. The data indicates a clear trend among Rhode Island manufacturers, who are adjusting their pricing strategies to mitigate the impact of rising costs attributed to tariffs affecting various goods.
Business Reactions and Stock Performance
Meanwhile, the public companies based in Rhode Island have shown a mixed response to these economic changes since President Trump’s inauguration in January. Notably, stock prices for several companies in the state have shown signs of stabilization following the tariff announcement in April, which had a profound impact on the broader American economy.
Among the publicly traded companies in Rhode Island, CVS Health has noted a positive performance, with its stock price rising 16.8% from $58.36 on June 27, 2024, to $68.14 on June 26, 2025. Conversely, Textron’s stock price experienced a decline of 7%, falling from $86.34 to $80.26 during the same period. In contrast, Hasbro reported a substantial increase of 24.3%, climbing from $58.16 to $72.31.
Other companies, such as Citizens Bank, have also seen favorable results, with stock prices increasing by 27.4% from $34.63 to $44.12. Washington Trust saw a modest increase of 6.3%, from $26.51 to $28.17. In terms of significant gains, United Natural Foods’ stock price skyrocketed by 66.5%, moving from $12.90 to $21.48.
However, not all companies have fared well. Bally’s stock plummeted by nearly 54.87%, decreasing from $22.07 in November 2024 to $9.96 by June 26, 2025. Similarly, AstroNova’s stock experienced a significant drop of 38.75%, falling from $15.15 to $9.28 in the same timeframe.
Context on Tariffs and Economic Impact
The survey conducted by Polaris MEP sheds light on the broader economic challenges faced by manufacturers within Rhode Island. The tariffs put in place by the Trump administration have affected products ranging from raw materials to finished goods, prompting manufacturers to rethink their pricing structures critically. This adjustment is a crucial step in coping with changing economic conditions that have led to fluctuating costs.
As tariffs continue to play a significant role in shaping market dynamics, manufacturers and companies across Rhode Island are adapting to new realities to maintain profitability. While some companies have shown resilience in their stock performance, the overall economic landscape remains uncertain, especially for those responding to adjusting costs driven by tariffs.
For residents looking to stay informed about local events and stories, a free newsletter called Rhode Map is available, providing insights into Rhode Island’s economic and social landscape.
Deeper Dive: News & Info About This Topic
- PBN: RI Manufacturers Facing Hardship Due to Tariffs
- Boston Globe: Rhode Island Publicly Traded Companies
- Scripps News: Legal Ways to Avoid Higher Tariff Costs
- Healthcare Dive: Tariffs Impact on Med Tech
- GoLocal Prov: RI Public Companies Affected by Trade Moves
- Wikipedia: Tariffs
- Google Search: Rhode Island Economic Impact of Tariffs
- Google Scholar: Manufacturing Industry Tariffs
- Encyclopedia Britannica: Tariff
- Google News: Rhode Island Tariffs
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
