PresidentDonald TrumpblastedWalmarton Saturday after the retailer warned this week that it will raise prices because of tariffs. "Between Walmart and China they should, as is said, "EAT THE TARIFFS," and not charge valued customers ANYTHING," Trumpwroteon Truth Social. "I'll be watching, and so will your customers!!!" Walmart CFO John David Rainey said in an interview on Thursday 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." Feds say $265 million crypto theft ring blew $13M on exotic cars, nightclubs 'Shark Tank' alum Bombas taps former Under Armour exec as CEO as it looks beyond digital roots American Eagle shares plunge 17% after it withdraws guidance, writes off $75 million in inventory Rainey said he is "pleased with the progress that's been made by the [Trump] administration on tariffs from the levels that were announced in early April, but they're still too high." That was despite a90-day reprievethat lowered duties on Chinese imports to 30%. Goods from dozens of other countries face a 10% duty. He said the company will "try to work with suppliers to keep prices as low as we can." Walmart didn't immediately comment on Trump's post. Walmart joined a growing number of companies that have increased prices or warned that higher prices are coming due to tariffs.Microsoftsaid earlier this month that it hasincreased the recommended retail pricesof Xbox video game consoles and some controllers. Barbie makerMattelannounced earlier this month it is moving production out of China, but still expected to have price increases its toys. AndFordwarned last week it would have toraise prices on some cars. Major U.S. retailers, includingTarget,Home DepotandLowe's, are expected to share their own outlooks on the impact of tariffs when they report results next week. Shares of Walmart ended 2% higher on Friday at $98.24.
