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President Donald Trump called on Walmart on Saturday not to raise prices on Americans, recommending that they “eat the tariffs.”
The president made the comments on Truth Social after Walmart announced plans to raise prices on many items, blaming the change on tariffs against China.
“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected,” Trump wrote.
“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!!!” he added.
Walmart CEO Doug McMillon shared concerns about prices during a Thursday earnings call.
“We will do our best to keep our prices as low as possible,” he said. “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.”
“The higher tariffs will result in higher prices,” McMillon added.
The comments related to Chinese tariffs follow the announcement of a 90-day cooling-off period earlier this month. The decision helped improve market concerns after tariffs of 145% against China began last month.
The new rate will be 30 percent, and China will lower tariffs on U.S. imports from 125 percent to 10 percent.
“The consensus from both delegations this weekend is neither side wants a decoupling,” Treasury Secretary Scott Bessent said.
“And what had occurred with these very high tariffs … was an embargo, the equivalent of an embargo. And neither side wants that. We do want trade. We want more balanced trade. And I think that both sides are committed to achieving that,” he added.
China’s Ministry of Commerce echoed that sentiment, calling the agreement a significant step toward resolving long-standing disagreements. The ministry noted that the deal would benefit consumers and businesses in both countries and contribute to global economic stability.
“This initiative aligns with the expectations of producers and consumers in both countries and serves the interests of both nations as well as the common interests of the world,” the ministry said, according to The Associated Press. It added that China hopes the U.S. will end “the erroneous practice of unilateral tariff hikes” and work with Beijing to strengthen economic ties.
