President Donald Trump has criticized retail giant Walmart for suggesting that it may raise prices due to soaring tariffs, urging the company to absorb the costs instead of passing them on to consumers.
On Saturday, Trump wrote on his social media platform, Truth Social, “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.”
He continued, “Walmart, the largest U.S. retailer, should EAT THE TARIFFS and keep prices down. I’ll be watching, and so will your customers.”
Walmart, known for its affordable goods and over 4,000 stores nationwide, had previously indicated that the imposed tariffs could force it to increase prices. On Thursday, Walmart CEO Doug McMillon stated, “We will do our best to keep our prices as low as possible, but we won’t be able to absorb all the pressure imposed by the tariffs.”
In response to Trump’s remarks, Walmart spokeswoman Molly Blakeman said, “We have always worked to keep our prices as low as possible and we won’t stop. We’ll keep prices as low as we can for as long as we can given the reality of small retail margins.”
John David Rainey, Walmart’s chief financial officer, noted that a third of the company’s products are sourced from abroad, highlighting the impact of tariffs on their supply chain.
Other retailers, including Target and Best Buy, have also warned of potential price increases due to higher tariffs. Economists at Wells Fargo pointed out that the core Consumer Price Index has increased 2.8% over the past year, with a 2.1% annualized rate over the past three months, indicating a slow but steady trend toward lower inflation in the United States.
“However, higher tariffs threaten to derail this trend,” the economists stated. “Our expectation is that prices for goods including vehicles and apparel will rise in the coming months.”
