President Donald Trump fired back at Walmart this weekend after the retail giant said it would be increasing prices due to the tariffs implemented by Trump.
Trump Walmart tariffs
Walmart
said earlier this week that it will be raising prices to counter higher costs from
President Donald Trump ’s tariffs, despite strong quarterly sales. "We will do our best to keep our prices as low as possible," Walmart's CEO Doug McMillon told industry analysts Thursday. "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." The price of bananas, imported from Costa Rica, rose from 50 cents per pound, to 54 cents, Walmart chief financial officer John David Rainey told The Associated Press earlier this week. He thinks car seats made in China that currently sell for $350 at Walmart will likely cost customers another $100. Baby strollers are also sourced from China, he added.
Trump tells Walmart to ‘eat the tariffs’
Trump lashed out at the retailer Saturday, saying Walmart should eat the additional costs
created by his tariffs . "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain," Trump posted. "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!!!"
What tariffs are in place right now?
Trump is working to assure skeptical Americans that foreign producers, retailers or automakers will absorb the additional expenses that come from tariffs. A slew of companies including
toy manufacturer Mattel , toolmaker Stanley Black & Decker and consumer products giant Procter & Gamble have also already announced higher prices or plans to raise prices. Economic analyses are deeply skeptical of claims that tariffs won’t impact
American consumer prices , and have warned that the tariffs would worsen inflation.
