Walmart (WMT) joins rocker Bruce Springsteen and pop music icon Taylor Swift as getting a verbal lashing from president Trump on social media this week.
The president ripped Walmart execs on Saturday for signaling tariff-driven price hikes that are poised to begin later this month.
“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!!!,” Trump said in a post on Truth Social.
“We have always worked to keep our prices as low as possible and we won’t stop. We’ll keep prices as low as we can for as long as we can given the reality of small retail margins,” a Walmart spokesperson told Yahoo Finance.
Walmart CEO Doug McMillon was among the CEOs who met with the president in late April to discuss tariff implications. A person familiar with the discussions told Yahoo Finance Walmart made a case to remove tariffs on China altogether as even lower tariffs would have major implications on prices for general merchandise items such as furniture and toys.
