President Donald Trump took to Truth Social to slam Walmart for warning it may raise prices due to tariffs.
“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,” Trump wrote, in a move that echoes earlier pressure campaigns aimed at companies like Amazon, Mattel and U.S. automakers. “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!!!”
This came in response to the retailer’s earnings call on May 15th, where Walmart CEO Doug McMillon said President Trump’s tariffs are “too high” and warned consumers to expect price hikes on certain items.
“We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” McMillon said on the call.
Walmart is specifically eyeing increases on toys — made more expensive to import from China — and food items like bananas and avocados from Costa Rica, Peru, and Colombia.
Walmart isn’t the first, and certainly won’t be the last, to sound the alarm and warn of price hikes. Automakers were told by the White House to hold the line and not increase prices in response to tariffs. Trump issued a similar threat to Mattel after the toymaker warned that toy prices could rise. “We’ll put a 100% tariff on his toys, and he won’t sell one toy in the United States, and that’s their biggest market,” Trump said, speaking of Mattel CEO Ynon Kreiz.
Adidas CEO Bjørn Gulden said their shoes could cost more in the U.S.
“Although we had already reduced the China exports to the US to a minimum, we are somewhat exposed to those currently very high tariffs,” Gulden said. “What is even worse for us is the general increase in US tariffs from all other countries of origin.”
Read more: You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now
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