President Trump told Walmart on social media Saturday that the retail giant should “eat the tariffs” instead of raising prices.
Walmart on Thursday warned that prices for everything from bananas to children’s car seats could increase despite the softer tariffs on China.
In a Sunday Truth Social post, the president said his economic plan will eventually lead to more domestic jobs in manufacturing.
“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!!!”
A Walmart spokesperson told CBS News on Saturday that the company has always worked to keep 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,” the spokesperson said.
“We can control what we can control,” Walmart CEO Doug McMillon said on Thursday of the company’s first quarter earnings. “Even at the reduced levels, the higher tariffs will result in higher prices,” he added.
The price hikes are expected to go into effect later this month.
Walmart imports a lot of cheap junk from foreign lands.
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