Procter & Gamble Co. on Tuesday said it would raise prices on around 25% of the products it sells in the U.S. due to tariffs. But as higher prices keep shoppers cautious, executives at the maker of consumer products including Tide and Bounty argued that cheaper products don’t guarantee longer-term success.

As expected, Procter & Gamble on Tuesday, July 29, reported its poorest sales increase since 2018, with organic sales growth up just 2%.