In a recent interview, investor Kevin O’Leary from “Shark Tank” remarked that retailers will not simply absorb tariffs as suggested by the Trump administration.
O’Leary expressed skepticism about the idea that retailers would “eat tariffs,” during his discussion with News Nation’s “Hill.”
He anticipates both consumers and retailers will share the burden of rising costs, though predicting product prices remains complex without knowing the exact tariff rates.
“There’s a certain distribution of pain during price increases,” he noted. “Retailers will feel part of it, but it truly hinges on the scale of the tariffs. We don’t have clarity on that—10%, 20%, 25%? It’s uncertain,” he added.
O’Leary believes retailers will push back against the administration, suggesting, “I see this as a sort of back-and-forth between retailers and Trump. We’re just at the beginning stages of these discussions.”
This remarks come on the heels of Walmart’s announcement that it would raise prices on imported items to pass along some costs to consumers as tariff-affected products hit the market.
The president responded to this news over the weekend, criticizing retailers for their higher prices while urging Walmart to shoulder part of the costs.
“Walmart should stop blaming tariffs for raising prices across the board,” Trump stated. “They made billions last year—more than I expected.”
He added, “In the dealings between Walmart and China, they shouldn’t impose costs on their loyal customers. I’m keeping an eye on this, and so are your customers!”
