US President Donald Trump criticized Walmart on Saturday for warning customers about potential price increases and blaming tariffs imposed under his administration.
Trump said Walmart should stop blaming tariffs, noting the company made “billions of dollars” in profits last year—”far more than expected.”
He urged the retail company to absorb the added costs instead of passing them to shoppers.
“Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING,” Trump wrote on Truth Social.
“I’ll be watching, and so will your customers,” he added.
The remarks followed Walmart CEO Doug McMillon’s comments during an earnings call Thursday, saying the company is facing higher import costs and cannot “absorb all the pressure,” warning prices may rise.
He underlined that about one-third of Walmart’s US inventory is produced domestically, but it relies heavily on imports from China, Vietnam, India, Mexico, and Canada.
Last weekend, the US and China agreed to lower tariffs after talks in Geneva. US tariffs on Chinese goods dropped from 145% to 30%, while China reduced duties on US products from 125% to 10%, effective May 14.