Bessent says Walmart will absorb 'some tariffs'
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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!!!”
Walmart’s CEO has risked a White House rebuke by warning that the budget retailer has no choice but to hike its prices because of President Donald Trump’s tariffs. Doug McMillon said Thursday during an earnings call that the business is feeling the squeeze of Trump’s so-called Liberation Day levies,
Shares in Walmart fell on Monday after President Trump over the weekend expressed displeasure about the retailer's tariff-fueled price hikes.
Bessent told CNN's "State of the Union" May 18 that he spoke with Walmart CEO Doug McMillon the day before, when Trump told the company on Truth Social that they should "'EAT THE TARIFFS," and not ...
7don MSN
Walmart warns of potential price hikes due to tariffs, despite strong Q1 results and e-commerce growth. The retailer remains optimistic about future sales.