United States President, Donald Trump, on Saturday, reacted to Walmart’s announcement of increasing prices this month, saying the world’s largest retail company should “eat the tariffs” instead of blaming duties imposed on imported goods for the increased prices.
Tribune Online reports that the world’s largest retailer, in a statement on Thursday, disclosed readiness to raise prices as soon as this month due to the high cost of tariffs.
The chief executive of the world’s largest retailer, Doug McMillon, while reporting to investors on the firm’s performance on Thursday, said he was grateful that the Trump administration had, for now, suspended plans for more aggressive levies.
He said, “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.”
However, Trump, in a post on his Truth Social, said, “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.”
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