Trump advises Walmart to “absorb the tariffs” following the retailer’s warning about price hikes.

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People shop at a Walmart in Rosemead, California, on April 11, 2025. Frederic J. Brown | Afp | Getty Images

President Donald Trump criticized Walmart on Saturday after the country's largest retailer announced this week that it would need to raise prices due to tariffs. "Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain," Trump wrote on Truth Social. "Between Walmart and China they should, as is said, 'EAT THE TARIFFS,' and not charge valued customers ANYTHING. I'll be watching, and so will your customers!!!"

Walmart CFO John David Rainey stated in an interview that, "We have not seen price increases at this magnitude, in the speed in which they're coming at us before, and so it makes for a challenging environment." As a retail giant and the largest grocer in the country, Walmart is often viewed as a barometer for the health of retailers and U.S. consumers.

Rainey expressed satisfaction with the progress made regarding tariffs since early April but noted that they remain too high, despite a 90-day reprieve that lowered duties on Chinese imports to 30%. Goods from several other countries are still subject to a 10% duty. Walmart imports items such as electronics and toys from China, and produces like avocados and bananas from Central and South America.

The retailer aims to keep prices lower than competitors, particularly as shoppers seek discounts. Rainey mentioned that Walmart would absorb some tariff-related costs, while also expecting suppliers to shoulder some of the increases. He added that the company would "try to work with suppliers to keep prices as low as we can."

In response to Trump's remarks, Walmart reiterated its commitment to maintaining low prices: "We have always worked to keep our prices as low as possible and we won't stop. We'll keep prices as low as we can for as long as we can given the reality of small retail margins."

Walmart is among many companies that have raised prices or warned of upcoming increases due to tariffs. Microsoft recently announced an increase in the recommended retail prices of its Xbox video game consoles and some controllers. Similarly, Mattel, the maker of Barbie, revealed plans to move production out of China while still anticipating price hikes for its toys. Ford also indicated last week that it would need to raise prices on certain vehicles.

Despite these challenges, Walmart maintained its sales forecast for the year but refrained from providing specific earnings or operating income projections for the second fiscal quarter, attributing the uncertainty to frequent changes in tariff policies. Other major U.S. retailers, including Target, Home Depot, and Lowe's, are expected to share insights on the impact of tariffs in their upcoming reports.

Shares of Walmart ended 2% higher on Friday at $98.24.

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