Bessent says Walmart will absorb 'some tariffs'
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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%,
“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!!!”
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 has become the latest example of a big company catching high profile political pushback in a still-fluid trade environment, as President Trump said on social media Saturday that the retail giant should "eat the tariffs.
Public companies are obligated to tell investors how tariffs could affect corporate financial results. But some are trying to do it with euphemisms to avoid the president’s anger.
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 ...
Consumers have been pinching pennies since skyrocketing inflation in 2022 took a toll on their wallets, and worries that prices may rise further in the wake of newly instituted tariffs have sparked considerable debate.