S6E658: Walmart facing backlash from Trump
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S6E658: Walmart facing backlash from Trump
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Yes, Walmart is facing significant tension due to President Trump's tariffs in 2025, as outlined in multiple reports. The retailer announced it would raise prices on various goods, including groceries, electronics, and toys, due to the high costs of tariffs, even after a reduction from 145% to 30% on Chinese imports. Walmart's CEO, Doug McMillon, stated that the company could not fully absorb these costs due to narrow retail margins, projecting price increases starting late May 2025 and intensifying in June.____________________________________
President Trump sharply criticized Walmart, demanding on Truth Social that the retailer "EAT THE TARIFFS" and not pass costs to consumers, citing Walmart's substantial profits. He warned, "I'll be watching, and so will your customers!!!" This public rebuke followed Walmart's earnings call, where executives explicitly linked price hikes to Trump's tariffs, prompting accusations from some, like former Representative Justin Amash, that Trump was pressuring companies in a manner reminiscent of populist policies.
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