Bessent says Walmart will absorb 'some tariffs'
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PopCrush on MSNWalmart Is Increasing Its Prices Thanks to the Tariffs—Here’s What You Need to KnowWalmart customers will bear the weight of President Donald Trump's tariffs as the retail giant plans to increase prices on certain items over the next few weeks.
Over the weekend, the president took to Truth Social to say Walmart should “EAT THE TARIFFS” after CEO Doug McMillon hinted at higher prices.
President Donald Trump lashed out at Walmart (WMT) on Saturday, pressuring the retail giant not to raise prices after it warned that his trade war policies would force it to do so.
“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!!!”
Shoppers at Walmart should brace for price increases on a wide range of goods in the near future, the company's Chief Financial Officer John David Rainey has warned, according to a CNBC interview. Despite a recent 90-day reprieve that lowered duties on Chinese imports to 30%,
Batya Ungar-Sargon claimed Walmart posted $169 billion in profit last year. The real figure was $15.5 billion.
We will do our best to keep our prices as low as possible,” Walmart’s CEO said. But ultimately, shoppers may end up paying the price.
President Trump publicly criticized Walmart, urging them to absorb tariff costs instead of raising prices for consumers. This rebuke followed Walmart CEO Doug McMillon's warning about impending price increases due to tariffs on goods primarily imported from China.
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Walmart warns of potential price hikes due to tariffs, despite strong Q1 results and e-commerce growth. The retailer remains optimistic about future sales.
The Trump administration’s war with Walmart continued on Sunday, as Treasury Secretary Scott Bessent admitted in an interview that Americans would be paying higher prices at the big-box retailer and other stores across the country.