Donald Trump criticized Walmart after it warned tariffs might cause price increases, urging the retailer to stop blaming tariffs.
President Donald Trump delivered a sharp rebuke to Walmart following the retailer’s warning about potential price increases linked to tariffs.
Walmart warned that tariffs on imports might force price increases on many products in their stores due to higher costs.
Walmart faces tariffs on goods from multiple countries
The retail giant sources a large portion of its merchandise from countries including China, Canada, India, Mexico, and Vietnam.
Each of these countries is currently subject to tariffs of at least 10 percent.
Tariffs on Chinese goods had previously reached as high as 145 percent under Trump’s administration.
They were temporarily reduced to 30 percent for 90 days following a trade truce with China.
However, Trump has warned that if a new trade deal is not finalized, tariffs could rise substantially once again.
Walmart CEO warns of price pressure due to tariffs
Douglas McMillon, Walmart’s CEO, spoke candidly during an earnings call about the challenges tariffs pose to the company’s pricing strategy.
He explained that while Walmart aims to keep prices low for consumers, the significant tariff costs make it difficult to avoid raising prices.
With narrow profit margins, the company must pass some tariff costs to shoppers, unable to absorb all extra expenses.
“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,” the chief executive said in an earnings call on Thursday (May 15).
Trump criticizes Walmart over the retail giant’s price hike warnings linked to new tariff policies
Reacting to McMillon’s statement, Trump criticized Walmart on his social media platform Truth Social.
He accused the retailer of unfairly blaming tariffs for the price increases and highlighted Walmart’s enormous profits in the previous year.
Trump insisted that Walmart and China should “eat the tariffs” rather than transferring the burden onto customers.
He warned that he and consumers would be watching the company closely to ensure it does not unfairly raise prices.
Trump wrote on Truth Social: “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. 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!!!”
Mark Cuban advises consumers to shop early
Adding to the conversation, billionaire entrepreneur Mark Cuban advised people to stock up on household essentials before tariffs potentially lead to higher costs.
On Bluesky, Cuban urged shoppers to quickly buy consumables like toothpaste and soap at Walmart or other big retailers.
He warned that even U.S.-made goods might rise in price, as companies could blame tariffs to justify increases.
The billionaire said: “It’s not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now.
From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory.”
“Even if it’s made in the USA , they will jack up the price and blame it on tariffs.”
