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.

Procter & Gamble said it would raise prices on about a quarter of its products in the U.S. in part because of higher costs from President Donald Trump's tariffs. On Tuesday, the o