President Trump said new import tariff rates are coming soon
During his trip to the Gulf, President Trump said his administration would be sending letters to countries informing them of new tariff rates.
Walmart should not blame tariffs for raising prices and should instead absorb additional costs, President Donald Trump said in a social media post May 17.
“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!!!,” Trump said in the post on Truth Social.
On Thursday, the world’s largest retailer said that it would have to start raising prices later this month due to the high cost of tariffs. Trump’s tariffs have roiled world trade in the weeks since he announced 10% tariffs on imports from all countries and additional higher tariffs on 60 countries in April. He has since backed off or paused some of the new rates.
“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,” CEO Doug McMillon said in a statement Thursday