Trump slams Walmart over tariff costs passed to consumers
Donald Trump attacked Walmart, believing that the company is passing the cost of imposed tariffs onto consumers. The company responded to the American leader, saying they are committed to keeping prices low for as long as possible, as stated by company representatives.
The American president accused Walmart of refusing to absorb the costs of tariffs implemented by his administration. According to Donald Trump, one of the largest retail chains in the USA has used trade policy to raise the prices of its products.
Trump emphasized that given Walmart’s exceptional earnings—trillions of dollars last year, surpassing expectations—the company should refrain from passing extra costs onto consumers. He argued that it would be more appropriate for the retail giant to absorb the tariffs rather than increase prices.
Representatives of Walmart responded to the president's remarks, emphasizing their commitment to maintaining low prices for as long as possible.
We will keep prices low for as long as possible. We've always strived to do this, but we have to consider the reality of low retail margins, Walmart representatives stated in their announcement.
The company admits that it has raised prices due to the financial burdens imposed on it. The extent of the price hikes for consumers in the United States remains uncertain.
Walmart’s Chief Financial Officer and Executive Vice President, John David Rainey, expressed concern in an interview with CNBC that the proposed tariffs are significantly high and pose a serious challenge for both retailers and suppliers. He warned that the financial strain could ultimately be felt by consumers.
