US President Donald Trump on Saturday told Walmart to “eat the tariffs” after the retail giant warned that it would have to raise prices because of the new import taxes. Trump said that the retail giant should not blame tariffs for the price hikes.
The US’s biggest retailer recently said that tariffs, even at reduced levels, would soon force price increases on many of its products. Walmart CEO Doug McMillon explained that while the company would try to keep prices low, it could not “absorb all the pressure” caused by the tariffs.
In response, Trump took to his social media platform, Truth Social, to scold Walmart. “Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” he wrote. “Walmart made BILLIONS OF DOLLARS last year, far more than expected.”
Trump urged Walmart to keep prices down despite the tariffs. “EAT THE TARIFFS,” he said, adding, “I’ll be watching, and so will your customers.”
Walmart’s warning comes amid growing concerns over inflation and rising costs, with Trump pushing to keep prices stable as part of his trade policy. About one-third of Walmart’s products come from overseas, with many imported from China and Mexico.
The company sells a wide range of affordable goods to millions of Americans and says 90% of the population is its customers, according to the New York Times.
Many retailers have avoided raising prices so far by stockpiling goods. Walmart is seen as somewhat protected because many of its groceries are sourced within the United States. However, the company has stopped projecting profits for the current quarter due to the uncertainty caused by tariffs.
Walmart reported a sales increase of over 3%, reaching $112 billion in the last quarter, and expects revenue growth of 3% to 4% for the year. Walmart is one of several companies warning that shoppers could soon face higher prices as import taxes drive up costs.
The US’s biggest retailer recently said that tariffs, even at reduced levels, would soon force price increases on many of its products. Walmart CEO Doug McMillon explained that while the company would try to keep prices low, it could not “absorb all the pressure” caused by the tariffs.
In response, Trump took to his social media platform, Truth Social, to scold Walmart. “Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” he wrote. “Walmart made BILLIONS OF DOLLARS last year, far more than expected.”
Trump urged Walmart to keep prices down despite the tariffs. “EAT THE TARIFFS,” he said, adding, “I’ll be watching, and so will your customers.”
Walmart’s warning comes amid growing concerns over inflation and rising costs, with Trump pushing to keep prices stable as part of his trade policy. About one-third of Walmart’s products come from overseas, with many imported from China and Mexico.
The company sells a wide range of affordable goods to millions of Americans and says 90% of the population is its customers, according to the New York Times.
Many retailers have avoided raising prices so far by stockpiling goods. Walmart is seen as somewhat protected because many of its groceries are sourced within the United States. However, the company has stopped projecting profits for the current quarter due to the uncertainty caused by tariffs.
Walmart reported a sales increase of over 3%, reaching $112 billion in the last quarter, and expects revenue growth of 3% to 4% for the year. Walmart is one of several companies warning that shoppers could soon face higher prices as import taxes drive up costs.
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