President Trump ripped into Walmart, saying on social media Saturday that the retail giant should "eat the tariffs" instead of blaming the duties on imported goods imposed by his administration for its increased prices.
Walmart on Thursday warned that everything from bananas to children's car seats could increase in price despite the softer tariffs on China.
"We can control what we can control," Walmart CEO Doug McMillon said on the company's first quarter earnings call Thursday. "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.
As Mr. Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses.
In a
Truth Social post on Sunday, the president lashed out at Walmart – which employs some 1.6 million people in the United States – and said the company should sacrifice its profits for the sake of his economic agenda. Mr. Trump says his economic plan will eventually lead to more domestic jobs in manufacturing.
President Trump warning the nations largest retailer against raising prices,
Walmart against raising prices, saying they should "eat the tariffs"
"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!!!"
All that talk about bringing back manufacturing when all it did was manipulate the stock market.
