President Donald Trump criticized Walmart today, urging the retail giant to stop attributing rising prices to the tariffs imposed on Chinese imports by his administration.
His remarks came after Walmart revealed earlier this week that it plans to begin raising prices later this month in response to ongoing tariff pressures. The company cited increased costs on imported goods, especially those from China.
“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 wrote on social media. “Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING.”
A spokesperson for Walmart was not immediately available to address Trump’s remarks.
Walmart CEO Doug McMillon stated on Thursday that the company simply could not absorb the full cost of tariffs due to its slim profit margins in retail. However, he clarified that while general merchandise prices—largely imported from China—might rise, the company was committed to ensuring that food prices remain stable.
In recent months, a number of U.S. corporations have adjusted or withdrawn their annual financial forecasts, citing fallout from trade disputes, particularly with China. Many have seen consumer spending slow as a result.
Walmart’s warning serves as a critical indicator of how the escalating trade tensions are impacting the broader retail industry. Known for its aggressive cost management strategies, Walmart has traditionally been able to keep prices low even amid economic challenges.
With around 255 million shoppers visiting its stores and online platforms each week globally, and 90% of Americans living within 10 miles of a Walmart location, the company holds a unique influence over U.S. consumer trends.
Walmart’s announcement came less than a month after reports surfaced that Amazon was preparing to reveal the specific financial impact of Trump’s tariffs on its merchandise. The White House lashed out at Amazon following those claims, though the company swiftly denied them.
{Matzav.com}