Trump tells Walmart to ‘eat the tariffs’ instead of raising prices
U.S. President Donald Trump said on Saturday that Walmart should “eat the tariffs” instead of blaming duties imposed by his administration on imported goods for the retailer’s increased prices.
Reuters
President Donald Trump reignited trade tensions ahead of the Memorial Day weekend with back-to-back social media posts recommending a 50% tariff on the European Union starting June 1 and warning Apple’s CEO of a new 25% import tax if their trademark iPhones are not made in the United States.
“The European Union… has been very difficult to deal with,” Trump said in a social media post on May 23, a resumption of his threats after pausing reciprocal tariffs on the EU and other nations in April.
“Our discussions with them are going nowhere!” the president added.
Trump had threatened big reciprocal tariffs on the EU and a host of countries in early April but paused all them, except for tariffs on China, shortly afterward. Since then his administration has been negotiating over trade deals. The only deal reached so far has been with the United Kingdom.
This is a developing story. Check back for more details.