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The President ripped into Walmart during the weekend, after Walmart warned that the retailer would have to increase prices due to tariffs.
The President ripped into Walmart during the weekend, after Walmart warned that the retailer would have to increase prices due to tariffs.
Higher prices coming
Ever since Liberation Day, Americans have been warned that the tariffs imposed by the Trump administration could lead to higher prices – and now they seem to be coming.
What happened Thursday?
According to CNN, CEO of Walmartm Doug McMillon, said Thursday, that the retailer will do it’s best to keep prices as low as possible, but the magnitude of the tariffs makes it impossible to avoid price raises.
Trump is not amused
During the weekend, President Donald Trump turned to his own social media, Truth Social, to have his say on Walmarts decision – and it would be an understatement to say, that POTUS agreed with the retailer.
Eat the tariffs
In the post, Trump said that Walmart should “STOP trying to blame the Tariffs as the reason for raising prices throughout the chain”.
He went on to say that Walmart made billions of dollars last year, and that the retailer should “eat the tariffs” instead of jacking up prices.
What experts warned would happen
Ever since the sweeping tariffs announced on Liberation Day, expers have warned that the sweeping tariffs could see prices being raised by companies to cancel out the increased costs of importing goods.
Companies face difficult choice
According to AP, companies all over the U.S. have a difficult choice to make when the tariffs really begin to have an impact: Either jack up the prices to cancel out the increased cost of production, or eat the tariffs and see their profits plummet – with an additional risk of having to lay off workers.
Auto industry warned
Specifically, Trump has warned American automakers not to raise their prices, even though the tariffs will increase production costs according to analysts.
“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump posted. “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!!!”
“I’ll be watching”
Finishing off his post on Truth Social, Trump warned Walmart that “I’ll be watching, and so will your costumer”.