Callum Jones
Donald Trump has issued a scathing response to Walmart after the retailer warned prices are set to increase in store as a result of the president's tariffs.
Walmart gets merchandise from the likes of Canada, China, India, Mexico and Vietnam, all of which face at least ten percent in tariffs.
The 47th POTUS has even increased tariffs on most Chinese goods to a staggering 145 percent, but that has since dropped to 30 percent for a 90-day period as Trump announced a temporary truce with China.
But if a subsequent trade agreement isn't reached with China, Trump has warned 'substantially higher' tariffs could come in on a later date.
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Walmart CEO Douglas McMillon hinted earlier this week that products across the retailer could see price hikes in the future amid Trump's tariffs.
"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," the chief executive said in an earnings call on Thursday (May 15).
The president responded to these comments on Saturday by saying Walmart should stop 'trying to blame tariffs' for the price hikes.
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Trump wrote on Truth Social: "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!!!"
Billionaire Mark Cuban has previously urged members of the public to 'go to Walmart' before Trump's new tariffs take full effect.
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In a post on the social media platform Bluesky, Cuban encouraged members of the public to go to 'the local Walmart or big box retailer' as soon as possible.
The billionaire said: "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."
Cuban went on to claim that companies could potentially use the tariffs as an excuse to increase prices, saying: "Even if it's made in the USA , they will jack up the price and blame it on tariffs."