On the 17th local time, U.S. President Trump posted on social media, criticizing American retail giant Walmart for blaming tariff increases for price hikes, stating that the company should bear the additional costs brought by U.S. tariff policies.

Previously, Walmart said it would increase prices for some products in the U.S. due to U.S. tariff policies. Trump believed that Walmart made substantial profits last year and should absorb the cost of tariffs on its own. He wrote: "Walmart should stop blaming all price increases on tariffs. Walmart made billions of dollars last year, far exceeding expectations." He emphasized: "They should 'eat' these tariffs themselves instead of charging them to their respected customers. I am watching, and so are your customers!"

Tariffs Push Up Costs

Walmart previously stated that it would increase prices for some products in the U.S.

On the 15th, executives from Walmart, the American retail giant, said that due to the U.S. government's tariff policy, the company would begin increasing prices for some products in the U.S. later this month.

The first-quarter financial report released by Walmart on the 15th showed that net profit for this quarter was $4.49 billion, a year-on-year decrease of more than 12%. Doug McMillion, CEO of Walmart, stated on the same day that even with the recent tariff adjustment measures announced by the company, Walmart could not absorb all the pressure brought by tariffs. Higher tariffs will lead to higher prices.

Loading video...

John Rainey, CFO of Walmart, told CNBC in an interview on the same day that Walmart's positioning is "everyday low prices," but the increase in tariffs exceeds any retailer's ability to absorb. American consumers are likely to see price increases starting at the end of May.

About one-third of the goods sold by Walmart in the U.S. are imported goods, mainly sourced from China, Mexico, Canada, Vietnam, India, and other places. Rainey said that although the U.S. government has adjusted the tariff rates, they are still too high for consumers, and he hopes that tariffs can be further reduced.

Walmart: "As Low as Possible" Prices

When asked to respond to Trump's post on the 17th, Walmart also expressed the same views as before.

In a statement, Walmart said: "We remain committed to keeping prices as low as possible and will not stop. Considering the reality of low retail margins, we will maintain prices as low as possible for as long as possible."

More U.S. Companies Join the Price Increase Ranks

As a retail giant and the largest grocer in the U.S., Walmart is often seen as a barometer for measuring the health of retailers and American consumers.

A CNBC report suggested that more and more U.S. companies are raising product prices due to tariffs, and Walmart has joined this trend.

Microsoft said earlier this month that it had already raised the recommended retail prices for Xbox gaming consoles and some controllers.

An industry report released earlier by Telsey Advisory Group showed that Barbie dolls sold in the U.S. saw a 43% price increase from April 16 to April 30, while Whirlpool Corporation raised the prices of some washing machines by around $80 during the same period. The report also mentioned that some products that have not yet been affected by tariffs will soon face price increases, with "retailers and manufacturers agreeing that higher costs will be passed on to consumers."

Shadow Over the U.S. Economy

The Associated Press reported that so far, these tariffs have cast a shadow over the U.S. economy.

The latest consumer confidence index in the U.S., released by the University of Michigan on the 16th, was 50.8, marking the fifth consecutive month of decline and setting the lowest record since June 2022, as well as being the second-lowest value ever recorded. Approximately 75% of respondents mentioned tariffs, as they generally expected inflation to accelerate. Analysis suggests that this shows that pessimism about the economic outlook among American households is worsening under the impact of trade policies implemented by the Trump administration.

Original Title: "From 'Price Hikes Soon' to 'Absorb Tariffs,' U.S. Policies Make Walmart 'Lose Twice'"

Column Editor: Zhang Wu; Text Editor: Shi Wei; Picture Source: Xinhua News Agency; Picture Editor: Cao Liyu

Source: Author: CCTV News Client

Original Article: https://www.toutiao.com/article/7505641955188081192/

Disclaimer: This article solely represents the author's viewpoint. Please express your opinion by clicking the 'Agree' or 'Disagree' button below.