President Donald Trump slammed Walmart for raising prices due to his increased tariffs, claiming the company should “eat the tariffs” instead of passing costs on to consumers.
Walmart executives said earlier this week the tariffs would result in higher prices, despite their best efforts to keep prices as low as possible. Trump posted on Truth Social Saturday hitting back at the company and claimed they should “stop trying to blame tariffs.”
“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. 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!!!” Trump posted.
Walmart CEO Doug McMillon said on an earnings call Thursday that the company was unable to absorb all the costs tariffs have added to the business and explained that some prices will increase.
“We will do our best to keep our prices as low as possible, but given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” McMillon said. “The higher tariffs will result in higher prices.”
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Trump announced his sweeping tariff plan early last month, placing a blanket 10% tariff of imports into the U.S., and higher “reciprocal” rates for select countries. Roughly a week after announcing the tariff plan, Trump paused the higher reciprocal rates for 90 days on all countries except China. He said the pause would allow for trade deals to be made.
Since the pause was announced on April 9, Trump has announced a trade deal with the United Kingdom and a temporary agreement with China which reduced some tariffs. The Trump administration has teased that deals are in the works with several other countries, but no additional deals have been announced besides those two.
