President Donald Trump issued a stern warning to retail giant Walmart on social media, urging the company not to pass on increased costs to consumers as a result of tariffs imposed during his administration.
Trump emphasized that Walmart, which has reported substantial profits, should absorb the additional costs instead of raising prices for shoppers.
The company indicated that consumers may start seeing price increases by the end of the month, with more significant adjustments expected in June.
The tariffs, designed to encourage domestic production and protect American industries, have placed financial strain on retailers like Walmart, which rely on imported goods for their inventory.
Despite Walmart’s efforts to manage these increased costs, company officials have acknowledged that price increases are likely necessary.
Walmart’s Chief Financial Officer expressed concerns over the impact on consumers but reaffirmed the company’s commitment to keeping prices as low as possible.
He noted that the financial impact of the tariffs made price adjustments unavoidable, though the company is working to minimize their effect on customers.