Walmart said it will have to raise prices due to President Donald Trump‘s tariffs.
Despite Trump announcing trade deals with the United Kingdom and China, which lowered tariffs as he attempts to de-escalate the trade war that ensued following his April “Liberation Day” tariff announcement, Walmart said it will not be able to keep prices as low as they have been.
“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,” Walmart CEO Doug McMillon said Thursday on an earnings call. “The higher tariffs will result in higher prices.”
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The company reported strong
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