Trump Says Walmart Shouldn’t Blame Tariffs for Higher Prices
President Donald Trump said Walmart Inc. should stop trying to blame tariffs as the reason for raising its prices, as the company warned it would this week.
“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,” Trump said in a post on Truth Social Saturday. “Between Walmart and China they should, as is said, “EAT THE TARIFFS,” and not charge valued customers ANYTHING. I'll be watching, and so will your customers!!!”
Walmart this week announced another quarter of solid sales and earnings growth, but cautioned that tariffs and increasing economic turbulence means even the world's largest retailer expects to raise prices.
“If you've not already seen it, it will happen in May and then it will become more pronounced,” Chief Financial Officer John David Rainey said of price hikes in an interview on Thursday.
A Walmart spokeswoman said Saturday the company would keep prices low for as long as possible, citing small retail profit margins.
Trump also renewed his criticism of the Fed, insisting in another post that the central bank “SHOULD CUT RATES SOONER, RATHER THAN LATER,” as he sought to cast blame for the economic impacts of his tariff regime.
Trump's trade war has upended operations for businesses across all industries. While temporary agreements – including the latest 90-day deal with China – are expected to alleviate short-term pressure on the supply chain, the whiplash has made it tough for companies to respond or plan.
“It's a challenging environment to operate in retail right now, with prices going up like this. There really hasn't been a historical precedent or prices going up this high, this fast,” Rainey said. “The magnitude of the tariff increases though are so large that retailers can't absorb these by themselves.”
Walmart is better positioned than other retailers to weather the range of challenges. The company's global supply chain allows it to source products from several regions, while its scale means it can negotiate better deals with suppliers. The company said last month it planned to maintain prices to gain market share.
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