Bentonville, Ark – Following Walmart’s announcement of price increases on several items, former President Trump criticized the retailer on social media. He suggested that Walmart was using tariffs as an excuse to hike prices.
In a Saturday post on Truth Social, Trump stated, “Walmart should stop trying to denounce tariffs as a reason to raise prices across the chain. Don’t charge anything that could alienate your customers. They are the ones ‘eating’ the tariffs. I’m watching.”
This remark from Trump came after Walmart indicated that its first-quarter revenue was affected by rising prices for various products, including bananas and car seats, which were partially impacted by the tariffs imposed by the former administration.
Walmart responded to Trump’s comments through statements provided to multiple news outlets. The company remarked, “We’ve always worked to keep prices as low as possible, but there are limits. We aim to maintain retail margins while managing costs.”
In an interview on Sunday, Treasury Secretary Scott Bessent mentioned that he had communicated with Walmart CEO Doug McMillon recently. He indicated that Walmart might absorb some of the tariff costs, while others could be passed on to consumers.
“Walmart may absorb some of the tariffs, and others may end up being charged to customers,” Bessent noted, referencing comments made to the Associated Press.
Walmart told Nexstar’s KNWA on Sunday that it wouldn’t comment further on Bessent’s statements.
Walmart isn’t the only company facing pressure to raise prices. Microsoft recently announced plans to increase the suggested retail prices for Xbox consoles and certain accessories, although they did not specify the reasons. It’s known that the Xbox is produced in China, which has become a focal point for tariffs.
Other companies, including Mattel, Ford, and the e-commerce platform Temu, have also indicated potential price hikes tied to rising tariffs.
