Trump Criticizes Walmart Over Tariff-Driven Price Hikes: “Eat the Tariffs” he says

President Trump on Saturday dismissed Walmart’s claim that his tariffs on Chinese goods, recently reduced from 145% to 30%, are driving price increases. Walmart’s CEO, Douglas McMillon, warned of inevitable price hikes due to the tariffs, especially on Chinese imports, with rises expected by late May and more in June. Economists predict this will hit Walmart’s lower- and middle-income customers hardest. Trump, posting on Truth Social, insisted Walmart and China should “EAT THE TARIFFS” and not charge customers, saying, “I’ll be watching, and so will your customers!” Consumer sentiment has also dropped amid fears of a recession.

Walmart Dilemma

Trump’s comments echoed Commerce Secretary Howard Lutnick’s comments Sunday on CNN’s “State of the Union” that “businesses and the countries primarily eat the tariff.” Former Treasury Secretary Larry Summers has called such theories “ludicrous.”