The companies have done what I predicted at the beginning of this: They have a finite number of ways to deal with the increased costs of the tariffs. One of the quickest and easiest ways is to lay people off and freeze hiring. Check, that's what they're doing.
Another thing they can do is engage in "tariff engineering" and "shrinkflation", reducing sizes and portions and quality but charging the same amount:
Companies strip features, shrink products and swap materials as ‘tariff engineering’ costs hit consumers
Even though Trump is still somehow claiming that other countries are paying the tariffs, the fact is that American companies are paying them and keeping prices down (somewhat) only by reducing jobs and value to consumers.
Trump is lying and the Trumpsters remain arrogantly ignorant. It's exasperating, but it's all just par for the course. America, 2026 -- The Dunning-Kruger Effect writ large.