Recently, President Donald Trump made waves on Truth Social by directly calling out Walmart for its warning of impending price hikes due to tariffs. In a striking statement, he urged Walmart to “STOP trying to blame Tariffs” and emphasized their significant profits, claiming, “Walmart made BILLIONS OF DOLLARS last year, far more than expected.”
This admonition reflects a broader trend of corporate accountability that Trump previously applied to Amazon, Mattel, and U.S. automakers. In his post, he reiterated that Walmart and its partners “should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING.”
Walmart CEO Doug McMillon spoke during an earnings call on May 15, where he attributed the inevitable price increases to President Trump’s tariffs, labeling them “too high.” He remarked, “We will do our best to keep our prices as low as possible,” but acknowledged the challenge posed by slim retail margins. Walmart is particularly focusing on raising prices on toys and food items — including bananas and avocados imported from regions such as Costa Rica, Peru, and Colombia.
Walmart is not an isolated case; they join a growing list of companies that have expressed concern over rising tariffs. Automakers have received similar warnings from the White House not to raise prices in response to tariffs, while Trump once threatened Mattel over potential toy price increases. Adidas CEO Bjørn Gulden also pointed out that U.S. consumers may see a surge in their shoe prices, citing the pain caused by elevated tariffs, particularly those that reach all countries of origin.
Read more: You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how just 2 minutes can protect your wallet right now.
Action Steps for Consumers
- Stock Up: If you foresee price hikes on specific products due to tariffs, buying them now can be a smart move. Focus on shelf-stable items or frozen goods that are already priced before the tariff increase.
- Explore Alternatives: Search for domestic options or consider second-hand purchases from online marketplaces. Many consumers are finding effective ways to avoid higher prices through creativity.
- Stay Informed: Keeping an eye on tariff-related news will prepare you for potential price hikes and limited choices. This way, you can settle for different products that fit your budget better.
- Review Your Budget: Assess your expenses for areas where you can cut back to offset rising costs — consider renegotiating bills for services like car insurance or internet plans.
Walmart CFO John David Rainey chimed in, warning that consumers could start noticing higher prices very soon. “I’m concerned that the consumer is going to start seeing higher prices,” he stated. “You’ll begin to see that, likely towards the tail end of [May], and then certainly much more in June.”
Whether or not companies “eat the tariffs,” the effects are already being felt — both on grocery store shelves and across various sectors. Awareness and proactive measures can help consumers navigate this challenging economic landscape.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.