President Donald Trump has called out Walmart for announcing that it will raise prices in response to the tariffs.
The president pointed out that the company made billions of dollars last year and can afford not to pass the tariffs on to customers.
On Thursday, the multi-billion dollar company announced that price increases could come as soon as next month.
“We have always worked to keep our prices as low as possible and we won’t stop,” a Walmart spokesperson told The Hill. “We’ll keep prices as low as we can for as long as we can given the reality of small retail margins.”
Walmart CEO Doug McMillon claimed that the company is not “able to absorb all the pressure.”
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!!!
Earlier this week, Trump lowered tariffs on China from 145 percent to 30 percent for 90 days.
China, in response, lowered tariffs on the United States from 125 percent to 10 percent.
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