Donald Trump has responded critically to Walmart following the retailer’s announcement that prices will likely rise in response to the president’s tariffs.
Walmart sources its products from countries like Canada, China, India, Mexico, and Vietnam, all of which are now subject to at least a ten percent tariff.
The 47th President of the United States has increased tariffs on the majority of Chinese imports to an impressive 145 percent. However, this has been temporarily reduced to 30 percent for a period of 90 days after Trump declared a temporary agreement with China.
If a lasting trade deal with China is not achieved, Trump has indicated that even higher tariffs could be implemented in the future.
Earlier this week, Walmart CEO Douglas McMillon suggested that products across their stores might soon see a rise in prices due to Trump’s tariffs.
During an earnings call on Thursday, May 15, 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.”
On Saturday, the president responded to McMillon’s remarks, asserting that Walmart should refrain from ‘trying to blame tariffs’ for the price increases.
On Truth Social, Trump wrote: “Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. 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!!!”
Previously, billionaire Mark Cuban advised the public to visit Walmart before Trump’s new tariffs were fully implemented.
On the social media platform Bluesky, Cuban urged people to visit ‘the local Walmart or big box retailer’ as soon as possible.
Cuban remarked, “It’s not a bad idea to go to the local Walmart or big box retailer and buy lots of consumables now. From toothpaste to soap, anything you can find storage space for, buy before they have to replenish inventory.”
He further suggested that companies might use tariffs as an excuse for price hikes, adding, “Even if it’s made in the USA, they will jack up the price and blame it on tariffs.”