Walmart has announced it will raise prices on select products due to the impact of new tariffs imposed under President Donald Trump’s economic policy agenda.
According to prepared remarks obtained by CNN ahead of an earnings call with analysts, Walmart CEO Doug McMillon stated: “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.”
Newsweek reports it reached out to Walmart for additional comment, though the company has not yet responded outside of normal business hours.
Context Behind the Tariffs
The price increases come as a direct response to the sweeping tariff policy introduced by Trump on April 2—labeled by the former president as “liberation day.” The tariffs, which target foreign goods entering the U.S., were enacted as part of a broader effort to correct America’s long-standing trade imbalances.
The White House argued that the tariffs were essential to addressing the country’s “large and persistent annual U.S. goods trade deficits,” an issue many economists have long warned weakens American manufacturing and increases reliance on foreign production.
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