Trump says on Truth Social that Walmart "earned billions of dollars last year, much more than expected" and that the company should accept the consequences of the tariffs and not charge their customers. "I will keep an eye on you and it will also affect your customers," he writes further.
Walmart's CEO Douglas McMillon said on Thursday that the price increases are a result of the high tariffs, particularly when it comes to Chinese goods, and that "given the scope of the tariffs, even at the now reduced levels, we cannot handle the higher cost pressure".
According to economists who CNN has spoken to, the tariffs that Trump has introduced will primarily affect low- and middle-income earners, who historically have been Walmart's main customer base.
