After major retailers and companies across the US warned that they would be forced to raise prices in response to Trump’s tariffs, Trump slammed Walmart, saying on social media Saturday that the retail giant should “eat the tariffs” instead of blaming the duties on imported goods imposed by his administration for its increased prices.
“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!!!”
“We can control what we can control,” Walmart CEO Doug McMillon said on the company’s first quarter earnings call Thursday. “Even at the reduced levels, the higher tariffs will result in higher prices,” he added.
The price hikes are expected to go into effect later this month.
As Mr. Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses.