The American supermarket network Walmart has announced that it will rise prices later this month. The reason are, among others, customs introduced by the Donald Trump administration. The president of the United States has reacted sharply to these reports.
You could say that Walmart had a beef with Donald Trump. As reported by the agency Reuters, the president of the United States criticised the network's decision on Saturday 17 May, claiming that it unfairly justifies the price increase with fresh duties. In the meantime, Walmart announced that price changes are essential due to the expanding costs of import tariffs.
"Walmart should halt blaming tariffs for price increases across the network. Walmart made a lot more than expected in the Dollar Billion last year. Both Walmart and China should, as they say, 'REPLACE THIS DUTY' and not shift any costs to loyal customers. I will look at it, just like your customers!” Trump wrote on the fact Social platform.
Walmart's got Trump.
Walmart stressed that he always tries to keep prices as low as possible. "We will keep prices at the lowest possible level for as long as possible, given the reality of tiny retail margins", is provided in a message to Reuters.
However, the company's CEO, Doug McMillon, admitted that the cost of tariffs cannot be absorbed indefinitely. Experts stress that Walmart's message shows how the trade war affects the full retail sector.
Walmart is the largest trading network in the world. It was established in 1962 in the United States and runs thousands of shops in respective twelve countries. It offers a wide scope of products from food and clothing to electronics and household products, offering competitive prices.
As we wrote in Temat.pl, the global markets are experiencing a worrying situation. The origin is Donald Trump's decisions about customs. The president of the United States decided in April that he would rise them, but only for China, and importantly reduce them for another countries, which can be read more here.
