The tariff blowback continues. 

Walmart Says Tariffs Will Result In Higher Prices

Walmart has told customers that President Donald Trump’s tariffs on international goods will result in higher prices. 

During Walmart’s quarterly business call, CEO Doug McMillon broke the news. 

He said, “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.”

According to McMillon, “The higher tariffs will result in higher prices.”

Walmart’s Chief Financial Officer John David Rainey told CNBC, “We’re wired for everyday low prices, but the magnitude of these increases is more than any retailer can absorb. It’s more than any supplier can absorb. And so I’m concerned that consumer is going to start seeing higher prices. You’ll begin to see that, likely towards the tail end of this month, and then certainly much more in June.”

https://people.com/walmart-announces-trump-s-tariffs-will-result-in-higher-prices-in-stores-this-month