Topline
President Donald Trump told Walmart to stop blaming his sweeping tariffs as the reason for price increases, urging the retail conglomerate to absorb the costs of the tariffs as it prepares to raise the prices of several goods this month.
Trump blasted Walmart in a Truth Social post Saturday morning. (Photo by Andrew Harnik/Getty Images)
Key Facts
Trump told Walmart to “EAT THE TARIFFS” in a Truth Social post, telling the retailer to not charge customers anything extra as his tariffs begin to take effect.
John David Rainey, Walmart’s chief financial officer, told CNBC this week the increase in tariffs is “more than any supplier can absorb and so I’m concerned that [the] consumer is going to start seeing higher prices” toward the end of May and even more so in June.
What Walmart Items Could Tariffs Make More Expensive?
Walmart CEO Doug McMillon said during the retailer’s first quarter earnings call that tariffs on trading partners like Columbia, Peru and Costa Rica have applied pressure on the prices of bananas, avocados and coffee. However, McMillon has assured consumers Walmart “won’t let tariff-related cost pressure on some general merchandise items put pressure on food prices.” Child products such as strollers, car seats and toys could also see a jump in cost despite Trump’s recent decision to lower tariff rates on most Chinese goods to 30%. McMillion also noted electronics prices could be pressured, as China represents a large share of imported electronic products.
This is a developing story. Check back for updates.
