President Donald Trump on Saturday told Walmart CEO Doug McMillon not to raise prices for Americans, but to instead “eat the tariffs.”
Trump recently dropped tariffs on Chinese imports from 145% down to 30%, but this week, McMillion said Walmart still could not absorb the extra costs, and will have to increase prices.
“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” the president posted on Truth Social. “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,” Trump wrote. “I’ll be watching, and so will your customers!!!”
McMillon made comments about having to raise prices, specifically over tariffs on China, during an earnings call on Thursday.
“We will do our best to keep our prices as low as possible,” he said. “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 higher tariffs will result in higher prices,” McMillon added.
There have been mixed reactions online to Trump’s demand for Walmart