President Donald Trump has called out Walmart for warning consumers about potential price increases due to tariffs, telling the retail giant to “eat the tariffs” instead of passing the costs onto shoppers.
Walmart CEO Doug McMillon announced last week that consumers should expect the company to raise prices on a range of products due to tariffs beginning later this month.
As previously reported by The Dallas Express, the Trump Administration and China recently lowered tariffs on the opposing countries, though Trump’s tariffs remain high overall.
Currently, the U.S. has placed a blanket tariff of 10% on the majority of countries around the world, with more significant tariffs placed on higher countries for various reasons, per CBS News.
In response to Walmart’s price increases, Trump posted on Truth Social to demand that the company absorb the tariff costs instead of raising prices.
“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.”
Trump finished this statement by saying that both he and the consumers will “be watching” Walmart to see if prices increase in the coming weeks.
These comments are a notable departure from Trump’s previous statements, in which he claimed that other countries, not U.S. companies, would be responsible for paying for these tariffs.
Shortly after Trump commented about price hikes, U.S. Treasury Secretary Scott Bessent spoke with McMillon and said Walmart is prepared to “eat some of the tariffs, just as they did in ’18, ’19 and ’20.”
“What you’re describing was Walmart’s earnings call. The other thing the companies have to do – they have to give the worst case scenario so that they’re not sued,” explained the secretary, per The Guardian.
Moving forward, consumers should be aware of whether McMillon’s claims will actually come to fruition. Rising prices are likely to continue in the coming months.
