The post Walmart says new Trump tariffs could raise prices appeared on BitcoinEthereumNews.com.

A Walmart store in Martinez, California, US, on Monday, Nov. 18, 2024. Walmart Inc. is scheduled to release earnings figures on November 19.  David Paul Morris | Bloomberg | Getty Images Walmart‘s CFO John David Rainey said the retailer would likely have to raise prices on some items if President-elect Donald Trump’s proposed tariffs take effect. “We never want to raise prices,” he said in an interview with CNBC on Tuesday. “Our model is everyday low prices. But there probably will be cases where prices will go up for consumers.” Rainey added that it’s too soon to say which products could cost more due to the tariffs. Walmart’s CFO weighed in on the potential policy change as the company beat Wall Street’s earnings and sales expectations and hiked its full-year forecast. Walmart’s comments are the latest warning from U.S. retail leaders about the potential blowback from from the duties. During Trump’s presidential campaign, he said he would impose a 10% to 20% tariff on all imports, including levies as high as 60% to 100% for goods from China. In a statement earlier this month, National Retail Federation CEO Matthew Shay described across-the-board tariffs as “a tax on American families.” He said it “will drive inflation and price increases and will result in job losses.” The prospect of increased prices comes as inflation has moderated in the U.S., after years of stretching consumers’ wallets. Other retailers and brands have also spoken out about the potential drawbacks of the tariffs. E.l.f. Beauty CEO Tarang Amin told CNBC in an interview earlier this month that the company could be forced to raise prices if the higher duties take effect. Footwear maker Steve Madden said it will reduce the goods it imports from China by as much as 45% over the next year to try to…

---

Filed under: News - @ November 19, 2024 3:19 pm