Hermès said prices will rise from May 1 and aim to “fully offset” the impact of the universal 10% tariff the White House imposed in early April.

Hermes’s first-quarter sales were dragged down by a continued lull in China, but were still better than peers.

Hermès is raising the prices of its handbags and scarves in the United States starting May 1, blaming the decision on Trump’s tariffs on Chinese goods.